100% mortgages are back!

A deposit free, first time buyer, 100% mortgage is available to private tenants who feel 'trapped' in the rental cycle and are over the age of 21. The product is subject to affordability and credit score, plus evidence of a minimum of a 12-months good track record of a privately rental property.

See if you pre-qualify for a mortgage

Enquire about a mortgage with our pre-qualifying affordability form. No imprint on your credit score.

Will not affect credit score

May 9, 2023
10:49 am

You are here: Home > News & Guides > 100% mortgages are back!

100% mortgage
No Deposit
First time buyer only
Requires 12 months rental proof
Good credit score
5 years fixed rate
Max 35 years
Get on the property ladder

As a renter, are you struggling to save a deposit?

A deposit-free 100% mortgage specifically aimed at people currently privately renting has been launched by a UK building society.

The deal requires official proof of 12 months of on-time private rental payments and a good credit history, it does not need a guarantor.

The interest rate is slightly more expensive, at 5.49% than the average five-year fix of 5%, but a great way of getting on the property ladder.

Rapidly rising rents have made saving for a deposit increasingly difficult, at the same time that the government’s flagship Help to Buy scheme, aimed at helping first-time buyers, is no longer available.

People trapped in renting is one of the UK’s biggest housing challenges. With escalating rents and the cost-of-living squeeze further impacting people’s ability to save for a house deposit – it’s making it almost impossible for people get onto the property ladder.

Luckily, there are now options available to help private renters get on the property ladder.

To speak to a mortgage broker and to find out more details, complete the form or call 0800 197 0504.

Name (required) {{ errors.forename }}

Surname (required) {{ errors.surname }}

Mobile Number (required) {{ errors.phone }}

Your Email (required) {{ errors.email }}

What would you like to talk about (required) {{ errors.mortgage_type }}

Yes

Keep me up to date with the latest info on rates, products and services we think you might be interested in

When would you like us to get in touch?

Call me ASAP

I'd like to pick a time

The monthly mortgage payment for each applicant should not be more than the average of your last six months rental costs that you have paid.

For example, a tenant paying an average of £1,000 per month over the last six months will have a maximum monthly mortgage payment of £1,000 for affordability.

Speak to a mortgage broker now

There is so much jargon when it comes to mortgages.

Our mortgage advisors are experienced in all types of mortgages and can explain everything to you in a simple and easy to understand manner. We will also do the mortgage application for you! For a free no obligation phone call to discuss your situation, call 0800 197 0504 or complete the pre qualify

0800 197 0504

0800 197 0504

100% mortgages are back!

See if you pre-qualify for a mortgage

As a renter, are you struggling to save a deposit?

Speak to a mortgage broker now

Reviews • Excellent