100% Mortgages

Mortgages with NO deposit

Dreaming of homeownership, but held back by lack of deposit? We're pleased to share a possible solution with you – the 100% Mortgage. 

The 100% Mosrtgage Unveiled

1. No Deposit Required:

• The 100% Mortgage breaks free from the conventional notion that homeownership demands a substantial deposit. With this innovative offering, you can step onto the property ladder without the need for a deposit, making your homeownership dreams more achievable.

2. Eligibility Considerations:

• You need to have proof of at least 12 months consecutive rental record within the last 18 months

Advantages of the 100% Mortgage

• Accelerated Path to Homeownership:

• By eliminating the need for a deposit, the 100% Mortgage accelerates your journey to homeownership. It's a valuable option for those eager to buy a home without the need for a deposit

Disadvantages of the 100% Mortgage

• There is not much choice. There is a 5 year fixed rate, and that's the only option!

Is the 100% Mortgage Right for You?

1. First-Time Buyers:

• If you're a first-time buyer and deposit challenges are holding you back, the 100% Mortgage offers an entry point into the property market.

2. Financial Planning:

• Before commiting, it's important to assess your financial situation and to explore any other paths to home ownership. Here at Mortgages Direct we can guide you through the decision-making process.

Your Homeownership Journey Starts Now!

At Mortgages Direct, we believe in providing you with options that empower your journey to homeownership. The 100% Mortgage is a testament to innovation in the mortgage industry, and we're thrilled to be a part of making your dream home a reality.

Ready to explore the possibilities of the 100% Mortgage? Contact Mortgages Direct today, and let's take the first step towards your new home.

What are the Requirements

You will need to satisfy the following lending criteria:

• All applicants must be a first time buyer (You should NOT have owned a property in the last 3 years)

• All applicants should be aged 21+

• You must be able to prove you have paid rent and utility bills for 12 consecutive months (within the last 18 months)

• The purchase price can be up to £600,000

• This deal is NOT available in Northern Ireland

• This deal is NOT available for NEW BUILD FLATS 

What 100% mortgages are available

At the moment there is a very limited supply of No deposit mortgages and currently the only deal is:

5 year fixed rate at 5.75% (APRC 6.6%) until 31/05/2030

• Try our Mortgage calculator for an estimate of your repayments

No application or completion fees

Free basic survey

Early repayment charges will apply during the fixed rate period:

6% until 31 May 2027,

then 5% until 31 May 2028,

then 4% until 31 May 2029,

then 1.75% until 31 May 2030.

Are there any alternatives

There may be some alternatives. 

You could consider asking family for help with the deposit. A gifted deposit from family is acceptable by most lenders

Raising the deposit by way of an unsecured loan is NOT acceptable by most lenders

Builders deposits can be acceptable with some lenders as part of the deposit for a new-build