Want to buy a home but haven’t managed to save a deposit? You’re not alone. With rising house prices and high rents, getting onto the property ladder has never been more difficult — but help is available. A mortgage with no deposit (also known as a 100% deposit mortgage) could be your way in.
Whether you're a first-time buyer, currently renting, or just exploring your options, this guide explains how to get a mortgage without a deposit, how lenders assess your eligibility, and how to increase your chances of approval.
A no-deposit or 0 deposit mortgage means you don’t need to contribute any upfront cash — the lender covers 100% of the property’s purchase price. These are also called 100% mortgages, zero-deposit mortgages, deposit-free mortgages, or 100% LTV (loan to value) mortgages.
So, if you're buying a house worth £250,000, the lender provides the entire loan amount. You’ll still need to cover other costs like stamp duty, legal fees, and surveys — but you won’t need to put down a deposit to secure the home.
In a traditional deposit mortgage, you’d pay 5–20% of the property value upfront. With a no-deposit mortgage, the full amount is borrowed — making it a great option if you’ve struggled to save but have a solid financial profile.
More lenders are now entering the market with zero-deposit mortgage options. While earlier products often required proof of 12 months’ rent payments, many of the newer deals assess your application more like a standard mortgage — focusing on your income, credit history, and overall affordability instead. Although the affordability checks are often tighter than those for 5% deposit mortgages, these no-deposit options are creating even more routes onto the property ladder for buyers with limited savings.
These mortgages continue to be a lifeline for renters and younger buyers who have a strong financial background but haven’t been able to save a deposit.
Montgomery Financial has helped thousands of first time buyers achieve their dream of owning a home. Our commitment to providing exceptional service throughout the whole process has earned us outstanding customer reviews. We understand that buying your first home is one of life's biggest decisions, which is why we guide you throughout every step with expert advice and support.
Some lenders now offer 100% mortgages to eligible renters with a solid financial background. Skipton Building Society recently introduced a zero-deposit mortgage for renters with a track record of consistent payments. These deals can help you buy a house sooner than expected.
If you're able to put down a small deposit, you’ll access a wider range of mortgage deals — including some with better interest rates. Even a small deposit of 5% can make a big difference to your mortgage options.
Guarantor mortgages are another option, where a family member supports your application. They might do this by locking savings in a linked savings account or offering their own home as security. This reduces risk for the lender and makes it more likely you’ll be approved.
You may be eligible for a 100% mortgage if you’re a first time buyer who hasn’t owned property in the UK in the past three years. You must also be aged 21 or over, have a combined household income of at least £24,000, and no missed payments in the last six months. Most lenders will want to see that you’ve paid rent in full for at least 12 months out of the last 18. A good credit score and low existing debt will strengthen your case.
Some schemes also favour people renting in social housing or those looking to buy their council home through the Right to Buy scheme.
Many renters can afford monthly mortgage payments, but can’t save while paying high rent. A zero-deposit mortgage is designed exactly for this situation — letting you use your rental history to prove affordability.
Before applying for a mortgage, it’s important to consider your credit score and history, your regular income and job stability, any outstanding debts, your rent payment track record, and whether a guarantor can support you. If you’re unsure how your finances stack up, working with a mortgage broker is the easiest way to assess your readiness.
The process is very similar to applying for a standard mortgage — but with a few additional checks. It begins with a conversation with a broker to explore your options. From there, you’ll complete your mortgage application, including proof of income, rent, and credit file. The lender then assesses your case, checking affordability, risk, and conducting a property valuation. If successful, a mortgage offer is issued and you move forward to completion and getting the keys.
Because lenders are taking on more risk with a 0 deposit mortgage, the checks may be more detailed — particularly around affordability and credit usage.
These mortgages often come with fixed mortgage rates for five to fifteen years, providing stability in your monthly repayments. However, the interest rate is usually higher than average and there’s a risk of negative equity if house prices fall. Some lenders restrict your ability to move, remortgage, or sell during the fixed term.
Only a few lenders offer 0% deposit mortgages — and some deals are only available via brokers. At Montgomery Financial, we have access to over 100 lenders, meaning we can find the right fit for you, not just what's on offer at your bank.
You’re not just a number. We provide tailored, expert advice — explaining all your options, whether that’s a low deposit mortgage, shared ownership, or 100% mortgage. We’ll help you decide what’s realistic and sustainable.
Whether you're looking to buy in a new area, or you're staying local in Northamptonshire, we offer insight into local property values, developer incentives, and lender appetite in your chosen region.
We aren’t tied to any one lender. That means unbiased recommendations and access to every deal that fits your profile — including specialist deposit mortgage options.
We’ve helped countless first-time buyers who thought they had no chance. From Skipton’s track record mortgage to niche guarantor options & true 100% mortgages and 1% deposit mortgages, we know the landscape inside out.
This might be your first home, but it’s not our first time helping someone in your shoes. We guide you from start to finish — breaking down jargon and helping you stay confident and informed at every stage.
Yes, it’s possible to get a mortgage without a deposit. A small number of lenders offer 100% mortgages to renters or with a guarantor. You’ll need a clean credit record, stable income, and a track record of managing your money well.
If you don’t qualify for a zero-deposit mortgage, alternatives include shared ownership schemes, which let you buy between 10–75% of a property and pay rent on the rest. There are also Rent to Buy schemes, which offer below-market rent to help you save, and guarantor mortgages if family can assist. Even a small deposit of 5% could give you access to better deals.
A no-deposit mortgage can carry risks. If house prices fall, you might end up in negative equity — meaning you owe more than the home is worth. That said, for buyers committed to staying in their home long term and making regular overpayments, it can be a sound route to homeownership.
At the time of writing, April Mortgages isn’t offering 100% LTV products — but that may change. As brokers, we compare current options from across the market, including lenders like Skipton Building Society and others offering similar products.
Think you need years of saving to own a home? You might already qualify.
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We’ll check your eligibility, run the numbers, and show you what’s possible — including low deposit or zero-deposit mortgage deals.
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