[font=Verdana, Arial] ALL of the lenders offering 100pc mortgages have followed Bank of Ireland's lead in advancing the 10pc contract deposit that borrowers must put down before their mortgage comes through.
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Primafinance's Mr O'Sullivan said 100pc mortgage applicants must make it clear if they also want the 10pc contract deposit advanced.
"Legally, the way it works is that the lender gives 100pc to the solicitor, and the solicitor undertakes to return the 10pc deposit loan plus interest.
"The borrower will have to have advanced the solicitor at least enough to cover the loan," he said.