No Deposit Mortgages

Raising a deposit to purchase a property can be a struggle for many first time buyers and home movers.

If you have no deposit there are mortgage options available to help you buy a property such as Shared Ownership mortgages or where friends/family can help you buy.

Our advisers will be happy to discuss this with you.

Speak to an Expert

I confirm that I have read and consent to my personal information being processed in accordance with The Money Hub's Privacy Policy. I also confirm that I have read The Money Hub’s E-Marketing to Customers and consent for The Money Hub to market to me by email. On receipt of this enquiry we will contact you to discuss your requirements.

No Deposit Mortgages

The biggest challenge facing many first time buyers & home movers is having a suitable deposit in place to allow them to purchase the property of choice. Here we discuss the challenges faced and alternative options available.


Is a No Deposit Mortgage Possible?

At the time of writing this in Sept 2020, given the current climate, and what is happening with the pandemic, many lenders are not lending at 100% of the purchase price, so therefore you will need to put down a deposit of typically 10%-15%, however there are alternative finance options available where a 0% deposit mortgage could well be possible.


What types of mortgages are there where a mortgage is available with no deposit?

Shared Ownership Mortgages – This is where you purchase a share of the property and rent the remaining share from the housing authority. For example if a house was for sale at £400,000, you could buy a 50% share being £200,000 and then pay rent on the remaining 50% (£200,000). On the share you are buying traditional high street banks will require you to put down a 5%-15% deposit, however there is a specialist lender who will currently allow you to borrow a 100% mortgage of the share you wish to purchase.

Family & Friends Help - There are 0% deposit mortgages available with the likes of the Barclays Family Springboard mortgage where a family member or friend can deposit 10% of the property purchase price into a Barclays account as security for the mortgage. The family member/friend will earn interest on these savings. For example if a property is worth £200,000 the 10% contribution from the helper would be £20,000 and this would need to be held in a Barclays account for a minimum of 5 years, unless the property is sold or remortgaged having built up sufficient equity.

Want to have a chat?

Speak to one of our experts...

What to Expect from The Money Hub

We Gather Information Required to Search the Market

We gather some basic information about you using our quick online form

Conduct a Whole of the Market Comparision

We will search 100’s of providers to find you the lenders who are willing to approve your mortgage

Provide full service through to completion

We will show you rates along with the monthly repayments. This will not affect your credit score. We’ll also explain any fees if you progress at this point and as long as you are happy to proceed, provide you with the full service through to completion of your mortgage being accepted

What our Customers think about us

No Deposit Mortgage FAQ's

Are No Deposit Mortgages available?
Yes – There are two ways in which this can be achieved through the shared ownership scheme where a lender could provide a 100% mortgage of the share you wish to purchase or a family assisted mortgage where a family member or friend provides savings equal to 10% of the purchase price to be used as security to the lender which is held in a savings account.
Who offers 100% Mortgages?
Several high street banks offer 100% mortgages providing family or friends can deposit 10% of the purchase price into a savings account with the lender. If you are looking at a shared ownership properties there is a specialist lender that will provide a mortgage to allow you to borrow 100% of the share you wish to purchase.