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Gregory says a mortgage involving a loaned deposit "would be fairly difficult to place.
If you wanted to buy the minimum share using a 95% mortgage, the 5% deposit would be £7,258.
The deposit would be lost first, and then the government would cover the next 15% of loss.
With the average asking price standing at £222,168, the required 5% deposit would be £11,108.
Carsberg says the size of the deposit would be agreed by both parties at the outset, but would be "big enough to be a serious indication of intent".
An average earner with a 5 per cent deposit would be able to afford a starter home in just 45 per cent of all council areas in England with a 20 per cent discount.
Similar(41)
"HBOS knew that those deposits would be paid … and that the only beneficiary of those deposits would be HBOS," said Mr Justice Peter Smith.
Mr. Haarde said all bank deposits would be guaranteed by the country — following Ireland, France, Germany, Austria, the Netherlands and others.
Failure to transfer security deposits would be a misdemeanor by the outgoing landlord, Mr. Ginsberg said.
The F.D.I.C. said the bank's deposits would be assumed by Citizens Bank and Trust of Chillicothe, Mo.
Interest rates on bank deposits would be allowed to float to market value last.
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