Compare No Deposit 100% Mortgages

You could get a mortgage with a 100% LTV or more without any deposit, but you may need a guarantor.

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55 results found, sorted by lowest initial rate. How we order our comparisons. Commission earned affects the table's sort order.
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Nationwide 2 year BBR tracker for existing borrowers
Maximum LTV
200%
Initial rate
2.37% base rate tracker for 2 years
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.6% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Nationwide 2 year BBR tracker for existing borrowers
Maximum LTV
200%
Initial rate
2.54% base rate tracker for 2 years
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.6% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Nationwide 3 year fixed for existing borrowers
Maximum LTV
200%
Initial rate
2.69% fixed for 3 years
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.6% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.75% of the outstanding balance, in the first year

- 1.50% of the outstanding balance, in the second year

- 0.75% of the outstanding balance, in the third year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Nationwide 2 year fixed for existing borrowers
Maximum LTV
200%
Initial rate
2.79% fixed for 2 years
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.6% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.25% of the outstanding balance, in the first year

- 0.75% of the outstanding balance, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Nationwide 3 year fixed for existing borrowers
Maximum LTV
200%
Initial rate
2.93% fixed for 3 years
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.6% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.75% of the outstanding balance, in the first year

- 1.50% of the outstanding balance, in the second year

- 0.75% of the outstanding balance, in the third year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Virgin Money 2 year fixed for existing borrowers
Maximum LTV
200%
Initial rate
2.98% fixed until 01 Apr 2024
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
4.2% APRC
Available on repayment basis. For residential interest only and part and part loans there is a minimum combined gross income requirement of £75,000. Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.50% of the outstanding balance, before 01 Apr 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at application68 years
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Virgin Money 3 year fixed for existing borrowers
Maximum LTV
200%
Initial rate
2.98% fixed until 01 Apr 2025
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
4.1% APRC
Available on repayment basis. For residential interest only and part and part loans there is a minimum combined gross income requirement of £75,000. Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.50% of the outstanding balance, before 01 Apr 2025

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at application68 years
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Virgin Money 5 year fixed for existing borrowers
Maximum LTV
200%
Initial rate
3.03% fixed until 01 Apr 2027
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
3.9% APRC
Available on repayment basis. For residential interest only and part and part loans there is a minimum combined gross income requirement of £75,000. Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.50% of the outstanding balance, before 01 Feb 2027

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at application68 years
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Mansfield 3 year discount cashback mortgage
Maximum LTV
100%
Initial rate
3.05% for 3 years (2.3% discount on SVR)
Subsequent rate (SVR)
5.35% variable
Overall cost for comparison
4.9% APRC
Area restrictions may apply.
More information
Application fee£199 paid upfront (non-refundable)
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of the original loan, in the first three years

Other fees may apply.

Eligibility
Available Direct
Available in England
First Time Buyers
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Mansfield 3 year discount cashback mortgage
Maximum LTV
100%
Initial rate
3.05% for 3 years (2.3% discount on SVR)
Subsequent rate (SVR)
5.35% variable
Overall cost for comparison
4.9% APRC
More information
Application fee£199 paid upfront (non-refundable)
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of the original loan, in the first three years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
First Time Buyers
Max age at term end85 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Loughborough 2 year discount
Maximum LTV
100%
Initial rate
3.1% for 2 years (2.24% discount on SVR)
Subsequent rate (SVR)
5.34% variable
Overall cost for comparison
5.0% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of the original loan, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
TSB 2 year fixed for existing borrowers
Maximum LTV
120%
Initial rate
3.14% fixed until 29 Feb 2024
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.7% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, before 28 Feb 2023

- then 1.00% of amount paid, until 29 Feb 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Nationwide 5 year fixed for existing borrowers
Maximum LTV
200%
Initial rate
3.19% fixed for 5 years
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.7% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product fee£999 with an option to add to the loan
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of the outstanding balance, in the first two years

- 2.50% of the outstanding balance, in the third year

- 1.75% of the outstanding balance, in the fourth year

- 0.75% of the outstanding balance, in the fifth year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Nationwide 5 year fixed for existing borrowers
Maximum LTV
200%
Initial rate
3.24% fixed for 5 years
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.6% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 3.00% of the outstanding balance, in the first two years

- 2.50% of the outstanding balance, in the third year

- 1.75% of the outstanding balance, in the fourth year

- 0.75% of the outstanding balance, in the fifth year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Loughborough 2 year discount
Maximum LTV
100%
Initial rate
3.25% for 2 years (2.09% discount on SVR)
Subsequent rate (SVR)
5.34% variable
Overall cost for comparison
5.1% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion fee£499 paid on completion
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of the original loan, in the first two years

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Remortgage Available
Self Employed Accepted
Scottish Widows Bank 2 year fixed for existing borrowers
Maximum LTV
120%
Initial rate
3.27% fixed until 30 Apr 2024
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.9% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking fee£749 with an option to add to the loan
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Scottish Widows Bank 2 year fixed for existing borrowers
Maximum LTV
120%
Initial rate
3.27% fixed until 30 Apr 2024
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.9% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking fee£749 with an option to add to the loan
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
TSB 5 year fixed for existing borrowers
Maximum LTV
120%
Initial rate
3.39% fixed until 28 Feb 2027
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.6% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 5.00% of amount paid, before 28 Feb 2023

- then 4.00% of amount paid, until 29 Feb 2024

- then 3.00% of amount paid, until 28 Feb 2025

- then 2.00% of amount paid, until 28 Feb 2026

- then 1.00% of amount paid, until 28 Feb 2027

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Tipton & Coseley term discount
Maximum LTV
100%
Initial rate
3.39% for mortgage term (1.55% discount on SVR)
Subsequent rate (SVR)
3.39% variable
Overall cost for comparison
3.5% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at application75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Tipton & Coseley term discount
Maximum LTV
100%
Initial rate
3.39% for mortgage term (1.55% discount on SVR)
Subsequent rate (SVR)
3.39% variable
Overall cost for comparison
3.5% APRC
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Wales
First Time Buyers
Max age at application75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Virgin Money 2 year BBR tracker for existing borrowers
Maximum LTV
200%
Initial rate
3.4% base rate tracker until 01 Apr 2024
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
4.3% APRC
Available on an interest only or repayment basis. For residential interest only and part and part loans there is a minimum combined gross income requirement of £75,000. Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking feeNo fee
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 1.50% of the outstanding balance, before 01 Apr 2024

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at application68 years
Max age at term end75 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Scottish Widows Bank 2 year fixed for existing borrowers
Maximum LTV
120%
Initial rate
3.45% fixed until 30 Apr 2024
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.8% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking fee£1,249 with an option to add to the loan
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Scottish Widows Bank 2 year fixed for existing borrowers
Maximum LTV
120%
Initial rate
3.45% fixed until 30 Apr 2024
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.8% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking fee£1,249 with an option to add to the loan
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Scottish Widows Bank 2 year fixed for existing borrowers
Maximum LTV
120%
Initial rate
3.45% fixed until 30 Apr 2024
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.8% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking fee£2,499 with an option to add to the loan
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted
Scottish Widows Bank 2 year fixed for existing borrowers
Maximum LTV
120%
Initial rate
3.45% fixed until 30 Apr 2024
Subsequent rate (SVR)
3.74% variable
Overall cost for comparison
3.8% APRC
Available to existing borrowers not moving only.
More information
Application feeNo fee
Arrangement feeNo fee
Booking fee£2,499 with an option to add to the loan
Completion feeNo fee
Product feeNo fee
Additional information

Early repayment charge

If you pay all or part of your mortgage early you will be charged:

- 2.00% of amount paid, in the first year

- 1.00% of amount paid, in the second year

Other fees may apply.

Eligibility
Available Direct
Available in England
Available in Northern Ireland
Available in Scotland
Available in Wales
Existing Borrowers Only
Max age at term end80 years
Minimum Age18 years
Permanent UK Resident
Self Employed Accepted

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

Overall representative example

Based on borrowing£170,000 over 25 yearsThe overall cost of comparison3.75% APRC representative
Initial rate2.19% fixed for 2 years (24 instalments of £726.81pm)Subsequent rate (SVR)4.02% variable for the remaining 23 years (276 instalments of £888.06pm)
Lender fee£552Total amount payable£263,101.10

Last Updated: 17 November, 2021

What is a 100% percent mortgage?

A 100 percent mortgage is a loan for the entire cost of the property. These loans are also sometimes referred to as no deposit mortgages,100% loan-to-value mortgages or 100 LTV mortgages. So, if your property costs £150,000, a no deposit mortgage would mean you're borrowing the full £150,000 from the lender.

100% mortgage for UK first time buyers 

A no deposit mortgage might sound ideal for first-time buyers, but sadly 100% mortgages are usually only offered to existing homeowners who already have a mortgage.

What does a 100% LTV mortgage mean?

Every mortgage has a loan to value ratio (LTV). That's the percentage of your property's value that you are borrowing.

If you're not getting a 100% mortgage, you have to make up the rest of the property's value with a deposit. Or, you could use equity from your current home (that's the amount of money you have tied up in it). The more equity you have in your home, the lower the LTV you can get, and the better the deal you'll be offered.

What are the best 100 per cent mortgages?

It’s quite difficult to get a good rate on your mortgage without a deposit. The very best deals are offered to buyers with excellent credit scores who can put down a 25% deposit. The LTV on a mortgage like that is 75%.

What do I need to know if I'm thinking of getting a 100 percent mortgage?

There are some important things to understand if you're thinking of getting a 100 percent mortgage.

  • Not all lenders offer 100% mortgages. Most mortgage lenders will only loan 95% of the property's value, which means you need a minimum 5% deposit. That's called a 95% loan to value (LTV) mortgage.

  • Lenders see 100% mortgages as risky. That's because you aren't putting in any of your own money into the property. All the risk is theirs.

  • You could get into negative equity with a 100% mortgage. Negative equity is when the value of your home drops to the point where the amount you borrowed is greater than the value of your home.

  • Interest rates on 100% mortgages are usually higher because they are seen as a bigger risk.

  • 100 percent mortgages aren't usually available for first time buyers. This group is already considered high risk - throw a 100% mortgage into the mix, and it’s unlikely to seem like a sensible arrangement to a lender. So if you're a first time buyer, you need to save up for a deposit or seek help from your family.

  • Shop around – 100 percent mortgages aren’t always the best deals.

How to find the best 100 percent mortgage in the UK 

You can use our comparison tables above to find the best no deposit mortgage for your circumstances. Look for a mortgage with low fees and a low set-up cost or arrangement fee.

The interest rate you're quoted for a 100% mortgage is likely to be higher than the interest rates in our other comparison tables. For example, you'll get better rates on first time buyer mortgages or traditional remortgages. Of course, mortgage deals for first time buyers do  tend to ask for at least a 10% deposit.

Are 100% mortgages a good idea?

At first glance, a 100% mortgage can seem like a tempting offer: you don't have to put up any money up front and you still get the chance to own your own home.

But you may be better off trying to save up a deposit of at least 5% before you approach lenders. That's because lenders offer much better deals to buyers who can show a history of financial discipline.

Lenders like to see borrowers put a deposit – or equity – into the property. It lowers the risk for them that you'll default on your mortgage.

Discover 7 ways to save up for your deposit.

Help to buy and 100 mortgages

If you already have a small deposit, the government's Help to Buy scheme for first time buyers can be useful. You need a 5% deposit to be eligible for the scheme. The government then adds a further 20% equity loan (or 40% in London) to your deposit. This equity loan means you'll be making a more reasonable LTV request and lenders will be more willing to lend to you at a better interest rate.

Can you get a 100% mortgage if you are a first time buyer?

While technically the answer is yes, you'll only be able to do so if you've got a guarantor.

A guarantor is a friend or family member who promises to pay the mortgage on your behalf if you fall behind with payments.

What is a 100% guarantor mortgage?

A guarantor mortgage means a family member agrees to guarantee your mortgage repayments. If you can't meet your repayments, your mortgage lender will expect your guarantor to cover the repayments. 

How risky are 100% guarantor mortgages?

The majority of lenders will require your guarantor to be a homeowner, and their property will be used as security against the loan. That means their property could be at risk if you default on the mortgage payments. So they're making a huge financial commitment on your behalf, and you'll need to talk to them about whether they're willing to do this.

Even if you do have a guarantor who's willing to help, some lenders will still ask you for a deposit. The bigger your deposit, the better the rates you'll be offered.

So what are the best 100 percent mortgage deals for first time buyers? 

Unfortunately, while you can get a guarantor mortgage as a first-time buyer, it's still probably a better idea to save up a deposit. The more you have, the better the rates you'll unlock. You'll have access to more mortgage lenders and more potential deals.

Learn more about guarantor mortgages

Who can get a 0% deposit mortgage?

No deposit mortgages are usually only offered to people who already own their own home. It’s unlikely you’ll be offered this type of mortgage if you have a poor credit history as lenders consider you as too much of a risk, but bad credit mortgages do exist. 

Sadly, those in a negative equity situation, can’t get a no deposit mortgage, either. 

Can you get mortgages with an LTV over 100%?

If you've bought a house or flat that's fallen in value since you arranged the mortgage, you might want a mortgage with an LTV of over 100% in order to move.This is because if you sold your current property, you'd have to pay the lender more to pay off your original mortgage loan than you received from the buyer when you sold it. This is known as a negative equity situation. 

Under these circumstances, you could try to negotiate with your lender to change your mortgage, or you could think about letting your house instead. The other option is to stay where you are and hope that the value of your home rises in time. In this case, you would continue to pay your mortgage instalments as normal.

Learn more about your options if you have negative equity.

Alternatives to 100 percent mortgages for first time buyers

If you have friends or family who are able to help you raise a deposit you may want to consider a family deposit mortgage. This type of mortgage means a family member must be able to deposit cash, ideally as much as 10% of the property’s value, into a savings account. The lender will pay interest on the account but the money has to stay in the account for at least the first five years of the mortgage. The money acts as security in case the first time buyer cannot afford the repayments.

100% mortgage FAQs

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Your home could be the most expensive purchase you ever make. Here is how much you might spend and how to make sure you can afford a mortgage and all of the other costs.

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Leasehold vs freehold

Leasehold vs freehold: Which should you get?

If you’re looking to buy a property in England or Wales, you’ll notice that they’re either listed as leasehold or freehold. But what’s the difference? We’re here to explain the terms, and share what they might mean for you as a property owner.

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