Can You Get a Mortgage Without a Deposit?
Horizon HQ Insights · Hampshire
For a long time, buying a home without a deposit felt almost impossible. But in recent years, a few lenders have started to reintroduce 100% mortgages… designed to help people who are renting or struggling to save a deposit get onto the property ladder.
Most lenders still ask for at least 5% upfront, but there are now some options that allow you to borrow the full value of a property in the right circumstances.
Some schemes look at your rental history instead of a deposit, while others allow family members to support the application through savings or guarantor-style products. These can be particularly helpful for first-time buyers who can afford monthly payments but haven’t yet built up a deposit.
That said, 100% mortgages do come with a few things to consider. Because you’re borrowing more, interest rates can be higher, and if property prices drop, you could end up owing more than the property is worth for a period of time.
The good news is that the market is changing, and there are more routes into homeownership than many people realise. The key is understanding what options might be available based on your circumstances.
Getting the right advice early on can make the process much clearer – and sometimes open doors you didn’t realise were there.
Want to learn more? Contact us today.
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