It is a loan for the full value of your home. For example, if your property costs 150,000, a 100% mortgage would let you borrow 150,000 from the lender.

The percentage of your property's value that the mortgage covers is called the loan to value (LTV). Most mortgages have an LTV of less than 100%, so you usually cover the rest of the property's value with either:

  • Equity in your current home, which is the amount of it you own yourself

With a 100% LTV mortgage you do not need a deposit or equity.

Can first time buyers get 100% mortgages?

Most of the mortgages in this comparison are not available if you are buying your first home.

Guarantor mortgages are the only exception because they can let you buy a house with no deposit.

However, you need someone to be named on your mortgage as your guarantor. This person must agree to make your mortgage payments if you fall behind and either:

  • Agree for their own house to be used as security against your mortgage

  • Keep a lump sum in a savings account with your lender for a few years

This comparison includes guarantor mortgages. Here is everything you need to know about how guarantor mortgages work.

If you do not have a guarantor and have not started saving a deposit, here is how you may still be able to get a mortgage.

What 100% mortgages can you get?

Apart from guarantor mortgages, the only 100% LTV deals available are for existing homeowners. Many are only available if you already have a mortgage with that lender.

These are usually for homeowners who are in negative equity, which is when your house value falls below the amount you owe on your mortgage.

You can use a 100% LTV deal to move house or remortgage if the amount you owe on your mortgage is about the same as your house is now worth.

Mortgages with an LTV over 100%

You can get mortgages with a loan to value of more than 100%, but they are usually only available to existing customers. You may be accepted even if your home is worth less than the amount you owe on your mortgage.

The maximum LTV is usually 120%. If you owed 180,000 on your mortgage but your home was only worth 150,000 now, you would need a 120% LTV mortgage.

100% mortgage FAQs

Q

Can I get a mortgage without a deposit?

A

Yes, if you have a guarantor. You need at least a 5% deposit for other mortgages, but some come with schemes to help you buy your first home.

Q

How can I save a deposit?

A

Here is how to save up for a deposit. Saving more helps your chances of being accepted and could help you get a cheaper mortgage.

Q

Can I get a 100% interest only mortgage?

A

No, you always need a deposit or equity in your current home to get an interest only mortgage.

Q

Can I get a 100% buy to let mortgage?

A

No, you always need a deposit to get a buy to let mortgage. Most require at least a 20% deposit.

Q

Does my credit record matter?

A

Yes, it will show lenders if you can keep up with repayments on a mortgage. Here is why your credit record matters.

Q

Can I afford a mortgage?

A

Check if you can afford one by working out how much you earn and spend. Compare this to how much buying a home will cost you.

About our mortgage comparison

Q

Who do we include in this comparison?

A

We include mortgages from every lender in the UK. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.

Q

How do we make money from our comparison?

A

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.