Can I Get a Mortgage With No Deposit?

Yes. It is possible for some buyers to get a mortgage without providing a conventional cash deposit.

There are several ways this can happen.

• a genuine 100% loan-to-value mortgage;
• a mortgage where a relative or friend provides savings as security instead of giving you a deposit;
• a very-low-deposit mortgage;
• a purchase where gifted money or existing equity provides the deposit even though none of it came from your own savings.

Those arrangements are not the same thing.

A true 100% mortgage means the mortgage can fund the whole accepted purchase price or valuation, subject to the lender's rules.

A gifted-deposit mortgage still has a deposit. Someone else has simply provided it.

And a family-backed mortgage may require somebody else to put substantial savings at risk even though you personally contribute no deposit.

Understanding that distinction makes the options much easier to compare.

What is a 100% mortgage?

Loan-to-value, or LTV, compares the mortgage with the value of the property being used as security.

If you buy for £300,000 with a £30,000 deposit and a £270,000 mortgage, the mortgage is 90% LTV.

If the lender advances the full £300,000, the mortgage is 100% LTV. You have not contributed a conventional purchase deposit.

That does not mean the purchase costs nothing upfront.

You can still need money for:

• solicitors and conveyancing;
• searches;
• a survey;
• moving expenses;
• mortgage or valuation costs where applicable;
• Stamp Duty or the equivalent property tax where due;
• insurance;
• emergency savings.

A zero-deposit mortgage should therefore not be confused with buying a home with zero savings.

Are 100% mortgages actually available in the UK now?

Yes.

They remain a specialist part of the mortgage market rather than the normal route for most buyers.

MoneyHelper says buyers will usually need at least a 5% to 10% deposit, but it also recognises that 100% no-deposit mortgages are available.

One important current example is Skipton Building Society's Track Record mortgage.

It can lend up to 100% LTV to eligible current or recent renters.

That is a genuine route to buying without a traditional deposit and without requiring a family member to give you the deposit.

How does Skipton's Track Record mortgage work?

Skipton uses evidence of the applicant's rental history as part of its proposition.

Its current criteria say applicants can potentially borrow up to 100% LTV where:

• each applicant is aged 21 or over;
• none of the applicants has owned a property in the UK during the previous three years;
• rent has been paid for 12 months in a row within the last 18 months;
• the required household-bill history can be demonstrated;
• the applicants meet its credit and affordability criteria;
• the required mortgage is no more than £600,000.

The product is available for qualifying purchases in England, Scotland and Wales, but not Northern Ireland or the Isle of Man.

There are additional property restrictions.

As at 9 September 2026, Skipton's live Track Record criteria allow up to 100% LTV on qualifying new-build houses, but not new-build flats. Skipton's current published maximum for a new-build flat remains 95% LTV.

These are Skipton's rules, not universal requirements for all 100% mortgages.

Do I have to be a first-time buyer?

Not necessarily in the strict legal sense.

Skipton's current Track Record rule is that applicants must not have owned property in the UK during the previous three years.

That means somebody who owned a property many years ago may potentially satisfy this particular lender rule even though they would not be a first-time buyer for tax purposes.

That distinction is important.

The phrase 'first-time buyer' can mean different things in lender criteria, Stamp Duty rules, government schemes and marketing.

Never assume that qualifying as a first-time buyer for one purpose means you qualify for every first-time-buyer benefit.

Does paying high rent mean I can automatically borrow the same amount as a mortgage?

No. Rental history can help, but normal mortgage affordability has not disappeared.

The lender still considers matters such as:

• income;
• committed expenditure;
• loans and credit cards;
• childcare;
• credit history;
• mortgage term;
• interest-rate stress;
• the property;
• the amount being borrowed.

Skipton's current Track Record criteria cap the loan-to-income ratio at 4.49 times income.

It also says that, in some circumstances, the mortgage payment it offers can be as much as 150% of the applicant's average monthly rent over the previous six months.

That does not mean every renter can borrow 150% of their rent. It means the lender's current affordability process can permit this in some cases after the full assessment.

Suppose I pay £1,500 rent each month. Can I therefore afford a £1,500 mortgage?

Not necessarily.

Your rent is evidence of an existing housing cost, but a homeowner has costs a tenant may not currently pay directly.

These can include building maintenance, major repairs, buildings insurance, service charges on some properties, estate charges and leasehold costs.

A mortgage lender also has to assess the borrowing under its regulatory affordability rules.

A strong history of paying £1,500 rent is therefore useful information, but it does not create an automatic entitlement to a mortgage costing £1,500.

What if the property costs more than I can borrow?

A 100% mortgage does not solve that problem.

Suppose the house costs £300,000 but the maximum mortgage your income and expenditure support is £260,000.

A product capable of lending at 100% LTV does not automatically turn £260,000 of affordable borrowing into £300,000.

You would still need to find additional acceptable funds, buy a cheaper property, change the application structure where appropriate or reconsider the purchase.

This is one of the biggest misunderstandings around no-deposit mortgages.

Deposit and affordability are separate restrictions.

Can the valuation create a deposit even on a 100% mortgage?

Yes, indirectly.

A lender normally bases its maximum advance on the lower figure where the agreed purchase price exceeds the lender's valuation.

Skipton expressly states this for Track Record.

Suppose you agree to pay £300,000 but the lender values the property at £285,000.

Even if the lender is prepared to lend 100% of its accepted value, that may only provide £285,000.

You would need to fund the £15,000 difference yourself if you still wanted to buy at £300,000.

This is sometimes called a down valuation.

A buyer who has literally no spare funds can therefore be particularly exposed to valuation problems.

Can I get a 100% mortgage with bad credit?

It becomes harder.

High-LTV mortgages expose lenders to more risk because there is little or no equity cushion at the start.

Skipton's Track Record criteria currently require applicants to have had no missed payments on debts or credit commitments during the previous six months, alongside its normal adverse-credit policy.

Another lender can apply different rules.

Do not assume that rent paid on time overrides problems elsewhere on the credit file. Your wider conduct still matters.

Can I get a no-deposit mortgage if I am self-employed?

Potentially, where the lender accepts your employment status and your income can be evidenced under its normal criteria.

Being self-employed does not inherently create a deposit.

The lender still has to establish sustainable income and affordability.

For somebody newly self-employed or with fluctuating profits, the income assessment may therefore be the bigger obstacle than the deposit.

No-deposit lending changes the equity requirement, not the rest of mortgage underwriting.

Can family help me buy without giving me a deposit?

Yes, with some mortgage structures.

Barclays' Family Springboard Mortgage is a current example.

The borrower can buy without contributing a conventional deposit.

Instead, a family member, friend or other helper provides savings equal to 10% of the property price as security.

Barclays currently holds that money for five years.

If the mortgage is maintained satisfactorily, the helper is due to receive the money back with interest.

This is very different from a gifted deposit.

The helper has not simply handed money to the buyer and lost ownership of it. Their savings are being used to support the mortgage and are exposed if the mortgage does not perform as required.

How does Family Springboard work in practice?

Suppose the property costs £300,000.

The buyer could potentially borrow the full £300,000.

A helper would provide £30,000, representing 10% of the price, into the security arrangement.

The buyer therefore has no conventional borrower deposit, but the lender still has additional security behind the transaction.

Barclays currently describes the helper as potentially being family, friends or another loved one.

This can be useful where parents have savings they are prepared to commit temporarily but do not want to give the money away permanently.

Is my family member a guarantor?

The exact legal arrangement depends on the product documents.

The important practical point is that their money is at risk.

A helper should understand how long the money is committed, what interest it receives, what happens if mortgage payments are missed, when the money can be retained for longer, whether they may need the savings themselves and how the arrangement affects their emergency reserves.

A no-borrower-deposit mortgage should not be described as 'no family risk' merely because the buyer is the legal owner of the property.

What if my parents just give me the deposit instead?

That is a gifted-deposit mortgage, not a true zero-deposit mortgage.

Suppose your parents give you £15,000 towards a £300,000 home.

You now have a 5% deposit and require a 95% mortgage.

From your own savings perspective you contributed nothing, but the mortgage itself is still 95% LTV.

This distinction matters because there are far more 95% mortgage options than genuine 100% products.

Gifted deposits are widely used, but lenders normally require the gift to be disclosed and may require confirmation that it is genuinely a gift rather than an undisclosed repayable loan.

Could a £5,000 deposit be enough instead?

Yes, with a current specialist first-time-buyer product.

Yorkshire Building Society and its intermediary brand Accord currently offer a £5k Deposit Mortgage.

It can lend up to 99% LTV.

The current criteria include:

• minimum cash deposit of £5,000;
• purchase price from £100,001 to £500,000;
• maximum loan of £495,000;
• maximum 99% LTV;
• maximum 40-year term;
• maximum 4.49 times loan-to-income;
• no new-build houses or flats;
• not available in Northern Ireland.

For a joint application, at least one applicant must qualify as a first-time buyer and neither applicant can currently own another property.

The £5,000 can currently come from the buyer or from a permitted cash family gift.

Accord specifically says a gift of equity does not satisfy the £5,000 cash-deposit requirement.

The current £5k Deposit Mortgage is also not eligible for Joint Borrower Sole Proprietor, Cascade score or Boost LTI.

Is £5,000 really a 1% deposit?

Not necessarily.

On a £500,000 property, £5,000 is 1%. On a £250,000 property, it is 2%. On a £150,000 property, it is more than 3%.

The product is therefore better described as a fixed £5,000 minimum-deposit mortgage with a maximum of 99% LTV, rather than assuming every borrower is buying at exactly 99% LTV.

For some buyers, saving £5,000 rather than tens of thousands of pounds may be the practical middle ground between a conventional deposit and a true 100% mortgage.

What about the Government's Mortgage Guarantee Scheme?

It helps with low-deposit mortgages, but it is not a zero-deposit scheme.

The current Mortgage Guarantee Scheme became permanent in July 2025.

It supports participating lenders offering mortgages in the 91% to 95% LTV range.

That means a borrower can potentially buy with a deposit as small as 5%.

It does not provide a 100% mortgage.

The current permanent scheme supports high-LTV lending, but the eligible mortgage range stops at 95% LTV.

What if I can save 5%?

It is worth comparing that route before automatically choosing 100% borrowing.

A 5% deposit can open access to a larger number of lenders, the permanent Mortgage Guarantee Scheme range, other standard 95% products, potentially different interest rates and a small equity cushion from day one.

Suppose you can buy now at 100% LTV but could save a 5% deposit within six months.

There is no automatic correct answer.

Buying now might be valuable if you have found the right property, rent is high, the mortgage is affordable and you accept the risks of 100% borrowing.

Waiting might be better if the extra deposit materially improves the mortgage rate, borrowing options or financial resilience.

The comparison should include the rent paid while waiting rather than looking only at the mortgage interest rate.

Can a Lifetime ISA help me build a deposit?

Yes, if you meet the current rules.

The Lifetime ISA remains available in 2026 while the Government considers future changes to first-time-buyer ISA support.

You can currently contribute up to £4,000 a year and receive a 25% government bonus, up to £1,000 a year.

For a qualifying first-home purchase, the property must currently cost £450,000 or less, the purchase must normally be at least 12 months after the first LISA contribution, you must be buying with a mortgage and the funds are transferred through the conveyancer.

If both people buying are qualifying first-time buyers with their own LISAs, both can potentially use their savings and bonuses.

A LISA does not create a no-deposit mortgage. It is a way of building a deposit more efficiently.

What happened to Help to Buy?

The Help to Buy equity-loan scheme in England is no longer open to new applications.

Do not confuse the old Help to Buy Equity Loan with the current Mortgage Guarantee Scheme, First Homes, Shared Ownership, Lifetime ISAs or lender-specific 100% products.

They solve different problems.

Could Shared Ownership reduce the deposit I need?

Potentially.

With Shared Ownership, you buy a percentage of the property and pay rent on the remaining share.

The deposit is therefore usually calculated against the share you are purchasing rather than the full market value.

Skipton currently permits qualifying Track Record borrowers to borrow up to 100% of the purchased share under its Shared Ownership criteria, but its current live criteria state that this is not available for new-build flats.

You still need to afford the mortgage, rent on the unowned share, service charges where applicable and other property costs.

Shared Ownership should not therefore be viewed simply as 'a cheap 100% mortgage'. It is a different ownership structure.

What about First Homes?

The First Homes scheme in England allows eligible first-time buyers to purchase certain properties at a discount of at least 30% to market value, with larger discounts possible in some areas.

The national rules require a mortgage or qualifying home-purchase plan covering at least half of the discounted purchase price.

However, lender and local-authority deposit rules still need to be satisfied.

The scheme is therefore primarily a discounted-purchase scheme rather than a universal zero-deposit mortgage.

What if I am in the Armed Forces?

Forces Help to Buy can potentially provide an interest-free advance to eligible service personnel towards a deposit and certain purchase costs.

That means the buyer may need less money from existing savings.

Again, this is not the same thing as a lender advancing 100% of the property price.

The advance is separate financial assistance that has to be repaid under the scheme rules.

What are the risks of a 100% mortgage?

The biggest structural risk is negative equity.

Negative equity means the mortgage debt is greater than the value of the property.

Suppose you buy for £300,000 with a £300,000 mortgage.

If the property later falls in value to £285,000 while you still owe £295,000, you are approximately £10,000 in negative equity before allowing for selling costs.

That can make it harder to sell, move home, remortgage to another lender or obtain a competitive new deal.

A buyer who starts with a 10% deposit has an initial equity buffer. A buyer starting at 100% does not.

Does that mean 100% mortgages are unsafe?

Not automatically.

The risk needs to be understood rather than exaggerated.

On a repayment mortgage, regular capital repayments should gradually reduce the debt.

House values can rise or fall.

A borrower planning to stay in the property for many years may be less exposed to a short-term price movement than somebody expecting to sell again in two years.

The problem is that nobody can guarantee future property values.

This is why a zero-deposit buyer should avoid assuming, 'I can always sell if I need to.'

Are 100% mortgage rates higher?

They can be.

MoneyHelper warns that low- or no-deposit mortgages are likely to cost more because of higher interest rates.

From the lender's perspective, 100% lending carries more potential loss if the borrower defaults and the property has fallen in value.

But you should compare the actual products available at the time.

The relevant question is whether the available 100% option provides better overall value for your circumstances than continuing to rent, saving a 5% deposit, using a family-supported product, accepting a gifted deposit or buying a cheaper property.

Do I need emergency savings if I am putting down no deposit?

Ideally, yes.

Using every available pound just to complete the purchase can leave you financially exposed immediately after moving in.

Homeowners can face costs tenants may previously have passed to a landlord, such as boiler failure, plumbing leaks, electrical faults, roof repairs, appliance replacement, service-charge demands and insurance excesses.

A mortgage lender approving the application does not mean you have enough cash reserves for every future problem.

Do I still need money at exchange of contracts?

Potentially.

The mortgage deposit and the contractual exchange deposit are related but not identical concepts.

In a conventional purchase, the sale contract may provide for a deposit at exchange.

Where someone is buying with very high-LTV finance and does not have the usual 10% available, the conveyancers need to establish what will be accepted and how the transaction will be structured.

A 100% mortgage does not mean the lender sends mortgage funds to you months before completion so you can use them at exchange.

This should be discussed with the conveyancer early, particularly on new-build purchases where exchange can take place well before completion.

Do first-time buyers still pay Stamp Duty?

Some do.

In England and Northern Ireland, current First-Time Buyers' Relief applies where all qualifying purchasers are first-time buyers and the home costs no more than £500,000.

Current rates are 0% on the first £300,000 and 5% on the portion from £300,001 to £500,000.

If the price exceeds £500,000, First-Time Buyers' Relief is unavailable and the normal residential rates apply.

Scotland and Wales use different property taxes and rules.

This matters for no-deposit buyers because somebody might need no mortgage deposit but still need several thousand pounds of property tax.

For example, buying a £400,000 qualifying first home in England currently produces £5,000 of SDLT. That money is separate from the mortgage deposit.

Can I borrow the legal fees and other costs as well?

Do not assume so.

A 100% purchase mortgage generally refers to lending against the accepted property value or purchase price.

It does not mean the lender will fund every solicitor bill, survey, tax payment, removals bill and piece of furniture.

Borrowing those costs separately can also create new debts that affect mortgage affordability.

Do not take out a personal loan or run up credit cards shortly before completion without understanding how it may affect the lender's assessment and any obligation to disclose changed circumstances.

What happens when my initial mortgage deal ends?

This deserves particular attention with a 100% mortgage.

Suppose you take a five-year fixed-rate product.

By the end of five years, capital repayments may have reduced the balance and the property value may also have changed.

If your LTV has fallen substantially, you may have access to a wider range of remortgage products.

If the property value has fallen or the mortgage balance has reduced only modestly, you may still be at a very high LTV.

That can restrict your options.

You may still have product-transfer options with the existing lender, subject to its rules, but you should not assume that a competitive remortgage to another lender will always be available.

This is another reason to look beyond the starting monthly payment.

Could overpaying help?

Potentially.

If your mortgage allows penalty-free overpayments, paying additional capital can help build equity more quickly.

For a borrower starting at 100% LTV, that can reduce exposure to negative equity and potentially improve future remortgage options.

But emergency savings matter too.

Paying every spare pound into the mortgage and then needing expensive unsecured borrowing when the boiler fails may not improve your overall financial resilience.

Check the product's overpayment rules and any early repayment charges.

Is a no-deposit mortgage better than renting?

There is no universal answer.

Buying can provide ownership of the property, potential equity as the mortgage reduces, exposure to future property-price growth and greater control over your home.

But it also creates mortgage interest, maintenance liability, purchase and sale costs, exposure to house-price falls, reduced flexibility compared with many tenancies and the risk of repossession if payments are not maintained.

Continuing to rent may allow time to build a deposit and emergency fund.

Equally, a renter who can comfortably afford a mortgage but cannot save quickly because of high rent may find a no-deposit option genuinely useful.

The comparison should be based on the whole financial position, not on the claim that rent is 'dead money' or that buying is always better.

Would I be better saving a deposit?

Sometimes.

Even a modest deposit can change the available mortgage market.

A larger deposit generally reduces LTV, which can mean more lender choice, potentially lower rates, smaller monthly payments, less negative-equity exposure and greater flexibility when remortgaging.

But waiting also has a cost. You may continue paying rent, property prices may change and the right home may no longer be available.

The decision is therefore whether buying now on the available terms produces a better and sufficiently resilient outcome than waiting.

What are the biggest mistakes to avoid?

Common mistakes include:

• assuming no deposit means no money is needed at all;
• assuming a 100% mortgage removes affordability checks;
• believing the lender will advance the full asking price even if its valuation is lower;
• assuming rent of £1,500 means a £1,500 mortgage will automatically be accepted;
• using one lender's no-deposit rules as though every lender has the same criteria;
• confusing a gifted deposit with a true 100% mortgage;
• describing family-backed security as risk-free help;
• assuming the Mortgage Guarantee Scheme provides 100% mortgages;
• forgetting legal fees, surveys, moving costs and property tax;
• buying with no emergency reserve;
• ignoring negative equity;
• assuming you will easily remortgage in a few years;
• borrowing money for purchase costs without considering the effect on affordability;
• choosing 100% borrowing without comparing what a 5% deposit could achieve.

What should I check before looking at properties?

Establish:

• how much you can actually borrow;
• whether you qualify for any current 100% product;
• your rental-payment history;
• your credit record;
• whether family help is available;
• whether family support would be a gift or temporary security;
• how much cash you have for fees and emergencies;
• likely property tax;
• which property types the lender accepts;
• the maximum property value or loan allowed;
• whether new builds are accepted;
• likely monthly repayments;
• what would happen if rates were higher in future.

What should I ask my mortgage adviser?

Useful questions include:

• Are there genuine 100% mortgages I qualify for?
• Do I satisfy the lender's rental-history rules?
• How much can I actually borrow without a deposit?
• What happens if the valuation is below my offer?
• Would a 5% deposit materially improve the rate?
• Is a family-backed mortgage better than a cash gift?
• What risk would a helper's savings be taking?
• Could a £5,000 deposit product work instead?
• Are new builds acceptable?
• What property types are excluded?
• What costs must I fund separately?
• How exposed would I be to negative equity?
• What happens when the initial fixed rate ends?
• Are there suitable Shared Ownership or other affordable-home routes?
• Would waiting and saving produce a materially better outcome?

So, can I get a mortgage with no deposit?

Yes, some buyers genuinely can.

Current options include a 100% mortgage for eligible renters and family-supported arrangements where the borrower contributes no traditional deposit.

There are also near-zero-deposit products requiring only a small fixed cash sum.

But the lack of a deposit does not remove the other parts of mortgage underwriting.

You still need enough sustainable income, acceptable expenditure and credit commitments, a suitable credit profile, an acceptable property, a satisfactory valuation, money for the other costs of buying and a mortgage that remains affordable.

A 100% mortgage can solve the deposit problem. It does not automatically solve the affordability problem.

How can FG & Cook help?

FG & Cook can compare no-deposit, low-deposit and family-supported mortgage options against your actual circumstances rather than assuming that one product fits every first-time buyer.

That can include looking at 100% mortgage eligibility, rent-payment history, income and affordability, gifted deposits, family-backed security, £5,000 and 5% deposit alternatives, Shared Ownership, government-supported low-deposit routes, property restrictions, valuation risk, monthly payments and the longer-term implications of buying at a very high LTV.

The aim is not simply to find a lender willing to lend 100%.

It is to establish whether buying without a conventional deposit is available, affordable and sensible for your circumstances.

Mortgage approval is never guaranteed and remains subject to full underwriting, affordability, credit assessment, valuation and legal-title requirements.

FG & Cook Financial Services Limited is an appointed representative of OSL Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority under FRN 948512.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

This article is intended for general information only and does not constitute personalised mortgage, tax, investment or legal advice. Mortgage products, lender criteria and government schemes can change, and individual lending decisions depend on the applicant and property.