No Deposit Mortgages
Genuine 100% mortgages are back. Five UK lenders now lend with no deposit at all, with rates from 5.65%, and we compare every one for you.
- Agreement in Principle in 24 hours
- Over 100 lenders
- Whole-of-market advice
For over a decade after 2008, the no deposit mortgage simply did not exist in the UK. It is back. Five lenders now offer genuine 100% LTV mortgages, no guarantor required, with rates from 5.65%. If steep rents have made saving a deposit feel impossible, your rental track record, your income or your family's income could be the key that gets you onto the ladder.
Why buyers come to us for no deposit mortgages
Buy with no deposit at all
A genuine 100% mortgage means you can buy without saving a 5% or 10% deposit first. Your rental record or income does the heavy lifting instead of cash in the bank.
All five lenders, one conversation
Skipton, Hanley Economic, Melton, April and Metro Bank each have very different rules. We check your eligibility across all of them at once, so you only apply where you actually fit.
No guarantor needed
Unlike the old 100% deals, none of these lenders asks for a guarantor. Your income, credit history and (for Skipton and Hanley) your rent record replace the deposit – or, with Metro Bank, an immediate family member joins as a joint borrower and their income counts too.
Honest about the risks
We will be straight with you about negative equity and higher rates, and tell you plainly if a 5% deposit deal would serve you better. Right advice, not a hard sell.
One adviser, start to finish
The same expert handles your case from first enquiry to completion, doing the paperwork and chasing the lender through the manual underwriting these products require.
Clear, jargon-free advice
We explain your options in plain English, so you always understand your choices and exactly what they cost.
How we get you a no deposit mortgage
Check you qualify
We look at your income, credit profile and rent history against all five lenders. Each has its own minimum income, loan cap and property rules, so we find the ones you genuinely fit.
Compare rates and terms
We line up the rates, fees, fixed periods and early repayment charges side by side, then explain the trade-offs in plain English so you can choose with confidence.
Pick the right property
Most 100% lenders rule out flats and new builds. We tell you what you can buy before you fall for a home no no-deposit lender will fund, saving you a wasted offer.
From application to keys
We package your case for manual underwriting, chase the lender and liaise with your solicitor right through to completion. Then you collect the keys.
The five UK lenders offering 100% mortgages
Only five lenders currently offer genuine no deposit mortgages, and they could hardly be more different. The right one for you depends on whether you can prove a rent history, what you earn, whether family can support you with income, and the type of property you want. Rates below were last checked on 16 August 2026. They can change at any time – even on the same day – and products can be withdrawn without notice, so do not rely on them: always confirm the current rate with the lender (bank) or your mortgage adviser first.
| Lender | From | Max loan | Best suited to |
|---|---|---|---|
| Skipton Building Society | 5.65% | £600,000 | Renters with 12 months of on-time rent |
| Melton Building Society | 6.15% | £500,000 | Buyers with no rent history (not Scotland) |
| April Mortgages | 6.70% | £600,000 | Higher earners wanting a long fix |
| Hanley Economic | 6.73% | £350,000 | Thin credit files, manual underwriting |
| Metro Bank | 6.99% | £675,000 | Buyers whose family can add income (JBSP) |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Skipton has the lowest rate
Skipton’s Track Record Mortgage (product code TM080) is fixed at 5.65% for 5 years with no product fee, the lowest 100% LTV rate on the market. Its Delayed Start version begins at 5.70% and the Shared Ownership variant is 5.90%. To qualify you need 12 months of documented, on-time rent, and your new payment cannot exceed 150% of your current rent.
How lenders replace the deposit
These products do not just ignore the missing deposit. Each lender swaps it for a different test of how reliably you handle money, which is why the right fit matters so much.
Proven rent record
Skipton and Hanley need 12 months of documented, on-time rent payments. Your new mortgage payment is then capped at 150% of your rent with Skipton, or 133% with Hanley.
No rent history? No problem
April Mortgages and Melton do not ask for rental history at all, which makes them ideal if you live with family or rent free. They assess your income and credit instead. Metro Bank goes a step further – an immediate family member joins as a joint borrower and their income counts towards affordability too.
Loan against income
Borrowing is capped at roughly 4.45 to 5 times your income. April needs a minimum income of £24,000 and Hanley £25,000. Joint applications combine both incomes, and Metro Bank counts the combined income of up to four applicants.
Low and no-fee options
Hanley charges no application or arrangement fee, and Skipton’s and Metro Bank’s current products carry no product fee at all. Melton’s £199 fee is offset by a separate £199 cashback, so the net cost is zero. April totals £1,190.
The property catch most buyers miss
A 100% mortgage is only half the puzzle. The property has to satisfy the lender too, and the rules here are strict, especially in cities.
Buying in Scotland?
Skipton, Hanley and Metro Bank all lend on Scottish property (Metro Bank excludes the island postcodes HS, KW and ZE), but April and Melton lend in England and Wales only. That narrows your choice to three before you have even factored in property type, fees and how long you are happy to be locked in.
Is a no deposit mortgage right for you?
For the right buyer a 100% mortgage is life-changing. For others a small deposit deal is the smarter move. The honest answer depends on who you are.
Long-term renters
Renting reliably for over 12 months with a clean payment record? Skipton and Hanley are built for you. Your rent track record becomes your deposit.
Living with family
Living rent free with parents? Melton and April do not need a rent history at all, so your income and credit alone can carry the application. And with Metro Bank, a parent’s income can join the application as a joint borrower.
High earners, no savings
Strong income but no capital? April targets exactly this, with ultra-long fixed rates that step down automatically as your equity builds.
Thin credit files
Knocked back by automated scoring despite managing money well? Hanley’s manual underwriting can look past the score at the bigger picture.
Could a no deposit mortgage get you on the ladder?
We will check your eligibility across all five 100% LTV lenders at once and tell you honestly whether it is your best route. Free first consultation, no obligation.
Free first consultation, no obligation.
No deposit mortgage questions
Can I get a mortgage with no deposit in the UK?
Yes. Five lenders currently offer genuine 100% LTV mortgages in the UK: Skipton Building Society, Hanley Economic, Melton, April Mortgages and – since 7 July 2026 – Metro Bank with a Joint Borrower Sole Proprietor product, with rates from 5.65%. Each has its own eligibility rules and not every applicant qualifies.
What is the lowest 100% LTV rate available right now?
Skipton’s Track Record Mortgage (TM080) is fixed at 5.65% for 5 years with no product fee, the lowest 100% LTV rate on the UK market as of 16 August 2026. Skipton’s Delayed Start version starts at 5.70% and the Shared Ownership variant is 5.90%. The deals revert to Skipton’s reversion rate (6.29%) at the end of the fix. Rates can change at any time – even on the same day – so confirm with the lender or your adviser before relying on them.
Do I need a guarantor for a 100% mortgage?
No. None of the five current 100% LTV lenders requires a guarantor. That is a key difference from the pre-2008 100% products. Your income, credit history and (for Skipton and Hanley) your rental track record replace the traditional deposit. Metro Bank’s product does involve an immediate family member joining as a joint borrower – they are jointly liable for the mortgage but take no ownership of the property, which is different from a traditional guarantee.
Do I have to prove a rental payment history?
It depends on the lender. Skipton and Hanley require 12 months of documented, on-time rent payments. April, Melton and Metro Bank do not require rental history, which makes them suitable for buyers living with family or in rent-free accommodation.
What are the current 100% LTV mortgage rates?
As of 16 August 2026: Skipton Track Record (TM080) at 5.65%, Skipton Delayed Start from 5.70%, Skipton Shared Ownership (ST029) at 5.90%, Melton (GF004) at 6.15%, April Mortgages at 6.70% (10-year fix) and 6.90% (15-year fix), Hanley Economic (MFD675) at 6.73%, and Metro Bank JBSP (R09214) at 6.99%. APRC on the April products is 7.12% and 7.27% respectively. Rates can change at any time – even on the same day – and products can be withdrawn without notice, so do not rely on these figures: always confirm the current rate with the lender (bank) or your mortgage adviser. Your home may be repossessed if you do not keep up repayments on your mortgage.
How much can I borrow with no deposit?
Maximum loans vary by lender. Metro Bank lends up to £675,000 – the largest 100% LTV loan available – Skipton and April Mortgages up to £600,000, Melton up to £500,000 and Hanley Economic up to £350,000. The actual amount you can borrow depends on your income, credit profile and the lender’s loan-to-income cap, typically 4.45 to 5 times annual income.
What minimum income do I need?
April Mortgages requires a minimum gross annual income of £24,000 and Hanley requires £25,000. Skipton and Melton do not publish a fixed minimum but apply affordability assessments (Skipton caps at 4.49 times income). Metro Bank requires the joint borrowers – the supporting family members – to have a combined income of at least £75,000 a year. Joint applications combine incomes for the affordability calculation.
Can I buy a flat with a 100% mortgage?
Largely no. April and Melton refuse flats outright at 100% LTV. Hanley caps flats at 95% LTV under its wider policy. Skipton will consider flats by referral but on restrictive terms. Metro Bank accepts flats other than those above commercial premises, subject to a minimum 99-year lease. Flats carry leasehold, ground rent and post-cladding valuation risk that 100% LTV lenders typically will not absorb, which is a significant barrier for city centre buyers.
Can I buy a new build with a 100% mortgage?
Most lenders exclude new builds at 100% LTV because of the developer premium. New homes commonly lose value the moment they complete, which would create instant negative equity at 100% LTV. April, Melton and Metro Bank ban new builds outright. Hanley caps new builds at 95% LTV. Skipton considers them case by case.
Are 100% mortgages available in Scotland?
Skipton, Hanley and Metro Bank all lend on Scottish property (Metro Bank excludes the HS, KW and ZE island postcodes). April Mortgages and Melton lend in England and Wales only. Scottish buyers therefore have three options, and the choice usually narrows further based on property type, fees and lock-in tolerance.
What is the rent cap rule on Skipton and Hanley?
Skipton and Hanley link your new monthly mortgage payment to your current rent. With Skipton the payment cannot exceed 150% of your current rent. With Hanley the cap is 133%. This is the behavioural underwriting test that replaces a deposit. April, Melton and Metro Bank do not apply a rent cap.
Is it risky to buy with no deposit?
The main risk is negative equity, where the property is worth less than the outstanding loan. With a 90% mortgage, prices would need to fall more than 10% before negative equity bites. At 100% LTV any fall puts you there. In the early years most of your payment is interest, so the LTV stays high. A long fix of 5 to 15 years and regular overpayments help build equity faster.
What fees should I expect on a 100% LTV mortgage?
Fees vary widely. Skipton’s current Track Record products carry no product or completion fee, and Metro Bank charges no product fee and no valuation fee. Hanley Economic has no application or arrangement fee (valuation only). Melton charges a £199 application fee but pays a separate £199 cashback, with a free valuation, so the net is zero. April is £195 application plus £995 completion (£1,190 total); at 100% LTV the £995 cannot be added to the loan and must be paid separately.
Can I overpay a 100% LTV mortgage?
Yes, and overpaying is usually a good idea because it pulls the LTV down faster and reduces negative equity risk. April allows unlimited overpayments with no charge. Hanley allows up to 10% per year free of charge. Skipton applies standard overpayment terms (typically 10% per year).
What is an Early Repayment Charge (ERC) and how does it apply?
An ERC is a penalty for repaying the mortgage during the fixed period. April has no ERC if you move home or repay from your own funds, but charges up to 9% if you remortgage in the early years. Hanley charges 3% during the fix. Melton’s ERC tapers from 5% down to 1%. Skipton’s ERCs follow the standard tiered structure for its 5-year fix.
What if I do not qualify for any 100% mortgage?
We can also arrange 95% LTV mortgages from a 5% deposit, often at significantly lower rates than 100% LTV products. Other options include Shared Ownership (buy a 25% to 75% share), Joint Borrower Sole Proprietor at lower LTVs (a family member adds income but not ownership – Metro Bank’s 100% LTV product works exactly this way), Right to Buy if you are a council tenant, and specialist schemes for new-build buyers. Speak to us for a full review.
Let us talk through your options
Your first consultation is free and there is no obligation.
Albion Financial Advice provides regulated mortgage and insurance advice where applicable. Your home may be repossessed if you do not keep up repayments on your mortgage. Wills, estate planning and some forms of business and buy-to-let insurance are not regulated by the Financial Conduct Authority. Information on this page is general only and does not constitute financial advice.