No deposit mortgages in the UK (100% LTV) – 2026 guide

Can you buy a house in the UK with no deposit?

Yes. 100% loan-to-value (LTV) mortgages almost disappeared after the 2008 financial crisis. They have gradually returned since 2023, and in 2026 several lenders offer them. They remain a niche product: most lenders still require at least a 5% deposit, and 100% mortgages come with stricter criteria and higher rates.

No deposit mortgages are designed mainly for people who have paid high rent for years and can afford mortgage repayments, but haven't been able to save a deposit.

Who offers 100% LTV mortgages in 2026?

Below is an overview of the main deals on the market. Listing a lender is not a recommendation – the right choice depends on your circumstances, and criteria and rates can change every few weeks.

As at October 2026. We always check current criteria and rates before you apply.

How much does a no deposit mortgage cost? 100% LTV rates

100% LTV mortgages are noticeably more expensive than mortgages with a deposit. The smaller your stake, the higher the lender's risk, so rates at 100% LTV are usually higher than at 95%, and higher still compared with 90% or 85% LTV. On a mortgage of a few hundred thousand pounds, the difference can mean tens or even over a hundred pounds a month.

That's why we always compare a 100% mortgage with the alternatives: sometimes saving a 5% deposit over a few months, a family gift or Shared Ownership gives a noticeably lower payment over the whole term.

Other ways to buy without your own deposit

Joint Borrower Sole Proprietor (JBSP)

A family member joins the mortgage with their income but doesn't own the property and isn't on the title deeds, which increases how much you can borrow. The joint borrower is liable for the whole loan, so they should take independent legal advice.

Family-assisted mortgages

Family can support your mortgage without giving you money: by placing some savings in an account linked to the mortgage (usually for a few years) or by offering a charge over their own property. The savings are returned once part of the loan has been repaid or the agreed period ends, provided payments were made on time. Barclays (Family Springboard) and several building societies offer this type of product.

A gifted deposit

Technically this is still a mortgage with a deposit, but the money doesn't come from your savings. The lender will ask for a gift letter confirming it's a gift, not a loan, plus evidence of where the money came from. Gifts from abroad are possible but need clear documentation. With a 5% deposit, the choice of deals and the rates are usually much better than at 100% LTV.

A deposit from a personal loan (borrowed deposit)

If your affordability allows, some lenders accept a deposit funded by an unsecured personal loan. Each has its own criteria, so we always check them before applying.

• You must always disclose the personal loan to your mortgage lender, which will ask for the credit agreement showing the amount, term and monthly payment.
• The loan repayments count as an outgoing, so they reduce how much you can borrow for the home.
• Some lenders won't accept a deposit funded by their own loan or one from their group.
• Personal loans usually have a higher rate and a shorter term than a mortgage, so for the first few years you pay two loans at once. In effect you borrow more than 100% of the property's value, which increases the risk of negative equity.

Speak to a broker before taking out the loan. The order matters: a new personal loan shows on your credit file and can change a mortgage lender's decision.

Shared Ownership and Right to Buy

With Shared Ownership you buy only part of the home (usually 10–75%), so the deposit is based on your share. With Right to Buy, the discount on your council or housing association home can act as your deposit, so you often don't need to put in your own money.

Why do many deals exclude flats and new builds?

At 100% LTV the lender has no buffer if the property's value falls. New builds are often sold at a developer premium and can lose value in the first few years. Flats carry extra risks such as leasehold issues, service charges and, in some buildings, cladding problems. That's why many lenders limit 100% mortgages to existing houses, or accept new build houses but not new build flats.

Long fixed rates, overpayments and early repayment charges

100% mortgages usually come with a 5-year fixed rate, and some with 10 or 15 years. Switching or repaying in that time usually triggers an Early Repayment Charge (ERC) – a percentage of the amount repaid that reduces each year. Most lenders still allow penalty-free overpayments, typically up to 10% of the balance each year. Regular overpayments reduce your LTV faster, which can mean a cheaper deal when you remortgage.

Negative equity – the main risk of a 100% mortgage

Negative equity means your home is worth less than the mortgage you still owe. Example: you buy a home for £200,000 with a 100% mortgage. Two years later you owe around £195,000, but local prices have fallen 5% and the home is worth £190,000 – a £5,000 shortfall.

As long as you stay in the home and keep up repayments, negative equity isn't a problem in itself. It becomes one if you need to sell (for example to move for work) or want to remortgage when your fixed rate ends, because your choice of deals will be very limited. That's why a 100% mortgage works best if you plan to stay put for many years.

Who is a no deposit mortgage right for?

It may suit you if:

• you've paid rent on time for years at a level similar to or above the future mortgage payment,
• you have stable income and a clean credit record,
• you plan to stay in the home for at least 5–10 years,
• saving a deposit would take years because rent takes most of your income.

Consider other options if:

• you could save a 5% deposit within a few months or receive a family gift,
• you may move within a few years,
• you want to buy a flat or a new build,
• your income is irregular or you have recent credit problems.

Costs you'll still have to pay

• solicitor (conveyancing) and searches – typically from several hundred to over a thousand pounds,
• lender valuation (often free, but not always) and possibly an independent survey,
• lender and broker fees – see our process and fees,
• Stamp Duty – first-time buyers get relief; check current thresholds with the calculator on gov.uk,
• buildings insurance from exchange of contracts, moving costs and basic furnishings.

How to prepare for a no deposit mortgage

1. Check your credit report (Experian, Equifax, TransUnion) and correct any errors. You can see data from several agencies in one report with checkmyfile (affiliate link). It's a paid service after the trial period, so cancel the subscription if you no longer need it.
2. Pay your rent in full and on time by bank transfer from your own account. Keep statements for the last 12–18 months or a letter from your letting agent.
3. If you're eligible, register on the electoral roll at your current address.
4. Avoid new loans, credit cards or car finance before you apply, and don't miss any payments.
5. If your affordability allows, consider a deposit funded by a personal loan – some lenders accept it. Only take the loan after speaking to a broker.
6. Talk to your family about helping with income (JBSP), savings or a gift.
7. Speak to a broker before you start viewing homes. At Balltica we check your documents before applying for a Decision in Principle, so there are no surprises later.

How we can help

As a whole of market broker, we check which lenders will actually accept your circumstances before you apply, so you avoid declined applications on your credit file. We'll compare a 100% mortgage with the alternatives – a small deposit, family support or Shared Ownership – and show you what each option costs over the whole term. The initial review and first conversation are free.