Gordon Brown has signalled the end of the 100% mortgage as he calls for high-street banks and building societies to encourage more "responsibility" in the housing market.

The prime minister suggests that first-time buyers will have to save more before they can get on to the housing ladder to reduce the chances of another crash.

Lenders may also face curbs on so-called high-multiple mortgages, offering loans of up to six times an applicant's salary.

The Observer

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