Since the 2007 credit crunch, the world has seen 100% mortgages disappear, which has affected homeowners considerably. The main affected were first-time buyers and people wanting to purchase a home in urban areas. However, 100% mortgages were not such a good deal. Why? Two basic reasons. First, they had higher interest rates than any other type: 1% more than the rest. Second, borrowers had to pay a Mortgage Indemnity Guarantee (MIG) in case they defaulted in paying the mortgage.
This last feature of 100% mortgages certainly benefited lenders, since market researches have proven that a high percent of people do default in payment. So, maybe the death of 100% mortgages was not such a bad thing after all.