Can you get a mortgage with no deposit? An expert's guide on how

If you’re a first time buyer and hoping to buy in 2026, it probably comes as no surprise to hear that one of the biggest barriers to homeownership in the UK is saving your pennies and pounds for that all-important deposit.

According to one survey of more than 2,000 adults, 58% of first-time buyers say raising a deposit is the main obstacle to buying a home. While 47% believe that they may not be able to borrow enough to get on the ladder (1).

“It’s not an uncommon train of thought,” mortgage adviser Jo Jingree, founder of Mortgage Confidence, says. “Especially when the latest figures show that the average first time buyer deposit in England stands at £63,855 and that the cost of the average home could set you back anywhere between £472,000 to £139,000 depending on the region you live in” (2, 3).

“But fortunately, in 2026, there are a range of alternative ways to get onto the property ladder that can help buyers purchase a home without having to scrimp and save for a hefty deposit,” Jo adds. “And it’s all thanks to 100% mortgages, or low- or no-deposit mortgages.”

What are 100% mortgages?

In short, a 100% mortgage — which can also go by the name of a no-deposit mortgage — is a mortgage that lets you borrow the full purchase price of a property. Meaning? No deposit is needed.

For example, if the property costs £200,000 a 100% mortgage could allow you to borrow the full £200,000 asking price.

What are low-deposit mortgage schemes?

Low deposit mortgages still have a high loan-to-value (LTV) offering but will require you to put down some sort of deposit.

Right now, some lenders are offering 99% or 98% mortgages. This means, if eligible, you could borrow 99% or 98% of the property’s value. While other lenders have launched flat-minimum deposit options where a £5,000 downpayment is required.

The benefits of 100% mortgages and no- or low-deposit schemes

There are a few. 100% mortgages or low- or no-deposit mortgages can:

- Help more people buy and access the benefits of homeownership: It removes the barrier of stumping up a large cash sum.
- Help more people buy sooner: “This is important because getting on the property ladder earlier in life can give homeowners more time to pay off their mortgage before retirement age and spread out the cost of the monthly repayments,” Jo says.
- Mean more security: As long as you keep up with your monthly mortgage repayments, buying a home gives you a permanent place to live without the fear of sudden rent increases or forced moves.

What’s the catch?

Every mortgage comes with its own terms and conditions, as well as its own advantages and disadvantages.

“For example, high LTV mortgages generally come with higher interest rates because they represent a much greater financial risk for the lender,” Jo explains. “Then, there is the danger of negative equity.”

This is when the amount you owe on your mortgage is more than the current market value of your house. For example, if you owe £300,000 on your mortgage but your home is now only worth £295,000, you have £5,000 in negative equity.

You will only have to find that shortfall if you sell the property. However, if you view the property as a long-term investment, this significantly lowers the risk of entering negative equity, as historical UK data shows values generally tend to recover and rise over extended periods.

Of course, with 100% mortgages and no- or low-deposit schemes, you will still have to pay for all the unseen costs of buying a home — like forking out anywhere between £1,000–£2,500 for solicitors’ fees, potential moving costs and depending on whether you’re a first time buyer or not, where you’re buying and whether or not you’re eligible for relief or exemption, you may also need to pay stamp duty. You can find out more, here.

“100% mortgages and no- or low-deposit schemes won’t suit every homeowner,” Jo says. “But I stand by the fact that they are a brilliant addition to the market, especially for those who haven’t got access to the Bank of Mum and Dad or for anyone unable to save because of high and rising rents,” Jo adds.

Talk to an expert

Either way, whether 2026 or 2027 is the year you plan on getting the keys to your own pad, it’s well worth talking to a mortgage adviser so you can talk through and assess your personalised options.

At Mortgage Confidence we treat all our clients with the utmost care and attention and will always go the extra mile to secure you the best deal. Jo has been listed in The Times 2019 Top Financial Advisors Guide and every year since.

Jo offers a free 30-minute no-obligation phone call to identify a mortgage suitable for you and your current circumstances. Get in touch to find out more.

There may be a fee for mortgage advice. The precise amount will depend upon your circumstances, but we estimate it will be £399.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Please be aware that by clicking on to some of the above links you are leaving the Mortgage Confidence Ltd website. Please note that Mortgage Confidence Ltd nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.