A 100% mortgage lets you borrow the full purchase price of a home, with no deposit saved. For first-time buyers who have a solid income and a clean credit history but have been unable to save a deposit while paying rent, these schemes can be the route onto the ladder.
The three main 100% schemes
Gable assesses eligibility on income and affordability, with no guarantor required. April offers a 100% loan with a rate that reduces as you pay down the loan — rewarding you over time. Skipton's Track Record mortgage is designed for first-time buyers who can prove they have paid rent on time for at least 12 months; your rental history replaces the need for a deposit.
Who qualifies?
Each lender has its own criteria, but in general you will need a clean credit file, a stable income, and for Skipton a documented 12-month rental history. You do not normally need a guarantor for any of the three schemes. Self-employed applicants can qualify where income can be demonstrated clearly.
Can I use a 100% mortgage on a new build?
Yes, on selected new builds. The Gable and April schemes can be used on qualifying new build properties, which opens first-time buyers with no deposit to new build stock. Because new build valuations can be stricter, we check the lender is comfortable with the specific development before you commit.
How to find out if you qualify
The honest answer is that eligibility depends on your full circumstances. The best next step is a free initial consultation — we review your income, credit and rental history and tell you plainly which schemes you qualify for.
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