100% Mortgage Option
Yes, but they are still niche, and they do not look like the old pre-2008 “true” 100% deals.
What’s come back is a small set of products that give the lender extra comfort in other ways, either by using a strong rental track record, or by taking additional security from family savings.
The main types you’ll see now
One route is a renter “track record” mortgage, where the lender is willing to lend up to 100% because you can show a consistent history of paying rent. Skipton’s Track Record mortgage is the best-known example, and it can lend up to 100% of the lower of purchase price or valuation, up to £600,000, with criteria around recent credit conduct and proof of rent payments.
The other route is a family-backed 100% mortgage, where the buyer does not put down a deposit, but a family member places savings as security for a fixed period. Lloyds’ Lend a Hand and Halifax’s Family Boost both work on the basis of a family member putting 10% of the purchase price into a fixed-term savings account for three years, with the savings returned (with interest) if the mortgage payments stay up to date.
Barclays also offers a Family Springboard structure, which is similar in concept, but typically uses a 10% linked savings account locked away for five years.
What to watch before you rely on a 100% mortgage
A 100% mortgage can get you onto the ladder sooner, but it also increases the risk of negative equity if prices dip, because you have no deposit buffer. Both Lloyds and Halifax flag this point in their own scheme guidance.
You also still need cash for buying costs, such as legal fees and surveys, even if you are not putting down a deposit.
So, what’s the real answer?
If you mean “can I buy with no deposit at all”, then sometimes yes, but only if you fit a fairly tight set of criteria, and often with either a strong rent track record or family support in the background.
If you want to know whether you specifically qualify, a broker can quickly sense-check which of these routes is realistic, and whether a low-deposit option (like 95% or 99%) is actually safer and better value once you factor in rate, fees and risk.
