When Banks Paid You To Buy a Property #londonproperty #londonguide #Londonhouses #FYP #Londonexpert

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Back in the 1990s, the UK mortgage market saw a wave of innovation that’s hard to believe today. One of the most shocking offers? Banks were practically paying you to buy a property! With self-certification mortgages, buyers didn’t need to prove their income — just sign to say they could afford it. Combine that with 95% loan-to-value (LTV) mortgages and a 15% cashback deal, and you had a system where first-time buyers and investors could step into property with little to no savings — and walk away with money for renovations! ????????

The cashback wasn’t just a gimmick — it was strategic. Many homes in that era needed modernisation, and lenders encouraged buyers to add value. That 15% cash back could cover everything from a new kitchen to a full refurb. With booming property prices, homeowners quickly saw equity grow, even before lifting a paintbrush. This was a time when confidence in the housing market soared, and lending criteria were relaxed to fuel the dream of homeownership. ????????

However, while it felt like “free money,” these deals weren’t risk-free. Self-cert mortgages later came under scrutiny, especially during the 2008 crash. But for those who timed it right in the '90s, it was a golden opportunity. You borrowed 95%, got 15% back, and often made gains before the next buyer ever walked through the door. It was bold, risky — and in some cases, wildly profitable. ????????

self cert mortgage UK, 1990s property boom, 95% LTV mortgage, cashback mortgage, UK property investment history, house renovation finance

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