Compare 100% Mortgages

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  • Mansfield BS's logo'

    Mansfield BS 3 Year Discounted Variable

    • Cashback Available
    • Initial Rate
      3.05% Discounted Variable for 3 years (2.30% disc)
    • APRC
      4.90%
    • Product Fee
      £199
    • Monthly Repayment
      £715.22
    Continue on Fluent Mortgages' website + More info
  • Mansfield BS's logo'

    Mansfield BS 3 Year Discounted Variable

    • Cashback Available
    • Initial Rate
      3.05% Discounted Variable for 3 years (2.30% disc)
    • APRC
      4.90%
    • Product Fee
      £199
    • Monthly Repayment
      £715.22
    Continue on Fluent Mortgages' website + More info
  • Click here to see 1 similar product
  • Loughborough BS's logo'

    Loughborough BS 2 Year Discounted Variable

    • Initial Rate
      3.10% Discounted Variable (collared at 2.00%) for 2 years (2.24% disc)
    • APRC
      5.00%
    • Product Fee
      £0
    • Monthly Repayment
      £719.14
    Continue on Fluent Mortgages' website + More info
  • Loughborough BS's logo'

    Loughborough BS 2 Year Discounted Variable

    • Initial Rate
      3.25% Discounted Variable (collared at 1.75%) for 2 years (2.09% disc)
    • APRC
      5.10%
    • Product Fee
      £499
    • Monthly Repayment
      £730.97
    Continue on Fluent Mortgages' website + More info
  • Tipton & Coseley BS's logo'

    Tipton & Coseley BS Discounted Variable

    • Initial Rate
      3.39% Discounted Variable (collared at 2.99%) (1.55% disc)
    • APRC
      3.50%
    • Product Fee
      £0
    • Monthly Repayment
      £742.12
    Continue on Fluent Mortgages' website + More info
  • Loughborough BS's logo'

    Loughborough BS 3 Year Fixed

    • Initial Rate
      3.49% Fixed for 3 years
    • APRC
      4.90%
    • Product Fee
      £0
    • Monthly Repayment
      £750.13
    Continue on Fluent Mortgages' website + More info
  • Barclays Mortgage's logo'

    Barclays Mortgage 5 Year Fixed

    • Initial Rate
      3.70% Fixed to 30/11/2026
    • APRC
      3.10%
    • Product Fee
      £0
    • Monthly Repayment
      £767.12
    Continue on Fluent Mortgages' website + More info
  • Loughborough BS's logo'

    Loughborough BS 3 Year Fixed

    • Initial Rate
      3.75% Fixed for 3 years
    • APRC
      5.00%
    • Product Fee
      £699
    • Monthly Repayment
      £771.20
    Continue on Fluent Mortgages' website + More info
  • Mansfield BS's logo'

    Mansfield BS 5 Year Fixed

    • Cashback Available
    • Initial Rate
      3.89% Fixed for 5 years
    • APRC
      5.00%
    • Product Fee
      £199
    • Monthly Repayment
      £782.67
    Continue on Fluent Mortgages' website + More info
  • Mansfield BS's logo'

    Mansfield BS 5 Year Fixed

    • Cashback Available
    • Initial Rate
      3.89% Fixed for 5 years
    • APRC
      5.00%
    • Product Fee
      £199
    • Monthly Repayment
      £782.67
    Continue on Fluent Mortgages' website + More info
  • Click here to see 1 similar product
  • Halifax's logo'

    Halifax 3 Year Fixed

    • Cashback Available
    • Initial Rate
      3.92% Fixed to 30/11/2024
    • APRC
      3.70%
    • Product Fee
      £0
    • Monthly Repayment
      £785.14
    Continue on Halifax's website + More info

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

The mortgage data above was supplied by Moneyfacts Group Plc and is updated at the time of mortgage search. The figures and data provided in our tables are for illustration purposes only. While we make every effort to ensure the accuracy of this data you should always confirm the terms on offer with the provider/broker. We do not give any financial advice.

Our mortgage comparison service is partnered with Fluent Mortgages for selections made outside of our featured lenders. Featured lenders are firms with whom we have a direct commercial relationship.

Award-winning comparisons you can trust

It's always nice to know you're on the right track. Over the years, as we have striven to improve the services we provide to our clients and users, we have been pleased to receive recognition for our efforts from both industry and consumer bodies.

Information written by Tim Leonard Last updated on 29 June 2021.

Saving a deposit to secure a mortgage can be tough, but with a 100% mortgage, a deposit isn’t required. This would seem to make 100% mortgages an ideal solution for first-time buyers, but you can be eligible for a 100% mortgage if you want to remortgage or move home too.

Here we explain how a 100% mortgage works and the things you need to be aware of from the start. In particular, you’ll find that fewer lenders offer no deposit mortgages, and if they do, the products can often prove difficult to secure. With a 100% LTV mortgage, a lender is taking on more risk, so you will need a guarantor who will back you up and make payments if you can’t. You’ll probably pay a higher interest rate than if you had a deposit to put towards a mortgage, and there’s the risk of falling into negative equity to consider, too.

However, if you keep all of this in mind, and track down a lender that is offering 100% deposit mortgages right now, then having no deposit doesn’t need to hold you back when buying a home.

What is a 100% mortgage?

A 100% mortgage is a mortgage that covers the full purchase price of a new home. Or to look at it another way, a 100% mortgage can allow you to buy a property with no deposit.

For this reason, 100% mortgages are also frequently referred to as 0% deposit mortgages or even 100% LTV mortgages – LTV stands for ‘loan-to-value’ and in this instance, 100% of the value of your home is being covered by a loan. The need to have a guarantor means they are often known as a guarantor mortgage too.

» MORE: What LTV means for a mortgage

How 100% mortgages work

100% mortgages work in much the same way as any other type of repayment mortgage in that monthly repayments will need to be made for the duration of a specified term. However, you should expect to see higher interest rates than if you’ve got a deposit to put towards a mortgage, and importantly you’ll need the backing of your family or a close friend to stand a chance of getting a 100% LTV mortgage.

Types of 100% mortgages

Lenders that currently provide 100% mortgages require borrowers to have a guarantor. This is to give them some security that someone is ready and able to step in should you fail to make your payments. Family members will typically take up this role, or sometimes a close friend.

A guarantor mortgage can be set up in a few different ways. Some lenders require that a guarantor allows a charge to be made over their home to provide security against a proportion of your mortgage. Often referred to as using property as security, the charge typically covers 20%-25% of the purchase price of the home you’re buying.

While a guarantor won’t own a share in your home, they promise to make the mortgage repayments on it if you can’t. But perhaps even more importantly, if the situation arises where neither you nor your guarantor can pay what you should, and your home is repossessed, a lender could also order the repossession of your guarantor’s home if there is a shortfall between the mortgage you still owe and how much your home is sold for.

Family deposit mortgages

Alternatively, some guarantor mortgages allow a guarantor to put up savings as security rather than their home. Sometimes known as a family deposit mortgage, here a guarantor is usually asked to make a deposit worth up to 20% of the value of your home into a set savings account. The pot must then remain in place for a certain number of years or until a predetermined percentage of the mortgage is paid off.

Assuming your mortgage payments have been met, the guarantor will receive their money back, along with interest. However, if repayments are missed, the lender may hold onto the money longer, or even use it to cover what is owed if you default and the proceeds from the repossession and sale of your home don’t cover the outstanding mortgage.

Family offset mortgages

A family offset mortgage operates in much the same way as a family deposit mortgage, but doesn’t pay interest on the funds that your guarantor has deposited. Instead, you won’t need to pay any interest on a part of your mortgage that is equivalent to the sum of money that has been set aside by your guarantor.

Some lenders offer family link mortgages, or variations on the same theme. Typically, these involve two mortgages: one specific to you at 90% LTV and then another at 10% LTV, which is secured against a property owned by a family member (there can be no mortgage on this). The buyer is liable for both mortgages, but the aim is to pay off the smaller ‘assistor’ mortgage, which is interest-free, entirely within five years. Repayments on the 90% mortgage must be paid at the same time, but the term can continue beyond five years.

Can you get a 100% mortgage?

Right now, relatively few lenders offer no deposit mortgages, so getting one is no easy task. It’s a far cry from before the 2008 financial crisis when 100% mortgages were widely available (and it was even possible to secure a mortgage for more than the value of a property).

A more cautious approach to lending brought about by the crisis, and new rules from the Financial Conduct Authority which put a greater onus on making sure mortgages are affordable to borrowers, saw lenders stop offering no deposit mortgages for a number of years.

Although some options have gradually returned, the onset of the coronavirus pandemic, during which lenders reined in lending to those considered riskier borrowers, has seen some providers suspend their no deposit mortgage products.

Can I get a 100% LTV mortgage?

Lenders can make 100% mortgages available to first-time buyers, those moving home and for remortgaging.

However, due to the extra risk a lender takes on if there’s no deposit, a 100% mortgage will only be attainable if you have a guarantor, who can offer additional security in case you are unable to make repayments, or if you’re an existing customer who wants to remortgage.

And even with a guarantor in place, a lender could still turn you down for a 100% LTV mortgage. To reach a decision, a lender will assess your eligibility and try to work out how much mortgage you can afford. Given the caution with which lenders approach these mortgages, having bad credit or significant debt will make getting a no deposit mortgage even harder.

Who offers 100% mortgages?

With most lenders still reluctant to take on the risk that no deposit mortgages pose, there are only a handful of providers that currently offer 100% mortgages. To find out who is offering them you can look at our comparison table above or you could consult a mortgage broker, who may be able to access deals that you can’t.

Benefits and advantages of a 100% mortgage

  • Provides the chance to buy a home without needing a deposit.
  • Could be an alternative to a gifted deposit if a family member wants to help a loved one onto the property ladder.

Risks and disadvantages of a 100% mortgage

  • You will need a guarantor (almost certainly with a decent credit score) to support you, who is willing to put their property at risk.
  • Money put up by your guarantor could be inaccessible for a number of years and is unlikely to earn the top rate of interest. With a family offset mortgage, there will be no interest at all.
  • If house prices fall, and the value of your home decreases, you could be forced into negative equity, where what you owe on your mortgage is more than what your property is worth. This can make it very difficult to remortgage or to move home, and could see you tied into making repayments on a property that is falling in value.
  • The pool of available 100% mortgages is very small.
  • 100% mortgages are likely to be more expensive than a standard mortgage.

100% Mortgages FAQs

What does LTV mean?

LTV is short for loan-to-value, and is a term used to indicate the size of the mortgage you want to borrow in relation to the value of the home you wish to buy. So if you don’t have a deposit, and want to borrow the entire value of the property, you’re looking for a 100% LTV mortgage.

What is a guarantor?

A guarantor is someone who is willing to support your application for a mortgage or loan, and will step in and make your repayments if you cannot. Having a guarantor is essential if you want a 100% LTV mortgage, and will typically be a close relative or friend. They will need to be at least 21 years old, and have a good credit history to stand the best chance of helping your application. The maximum age tends to vary between lenders.

What to do if you can't get a 100% mortgage?

If you can’t get a 100% mortgage, or decide it isn’t a good choice for you, saving a deposit can widen your mortgage options considerably. A deposit of a few thousand pounds may open the path to getting a 95% LTV mortgage.

If your family isn't willing or able to be a guarantor, but still want to help you out, maybe they’d be happier providing a gifted deposit, and give you the money needed for a deposit.

Where lenders are rejecting you because of poor credit, there may be some ways that you can improve your credit score.

Are there low-deposit alternatives to 100% LTV mortgages?

Save a deposit of just 5% and the choice of mortgages becomes notably larger; have a 10% deposit ready to go, and 90% LTV mortgages become an option too.

Buyer schemes offered by the government, such as Help to Buy or shared ownership, may also be able to help if you only have a limited deposit at your disposal.

Is my credit record important for 100% LTV mortgages?

As with any mortgage application, your credit record will be important as lenders use it to assess whether you’re likely to keep up with the repayments on a loan. However, given the risks lenders attach to 100% mortgages, this scrutiny will be even more intense if you have no deposit. The credit history of your guarantor is likely to be just as important to lenders too.

Can I get a 100% LTV buy-to-let mortgage?

No, a buy-to-let mortgage will always require a deposit. Most lenders will request a minimum deposit of 20% on a property that will not be used as your primary residence.

About the author:

Tim draws on 20 years’ experience at Virgin Money, Moneyfacts and Future to pen articles that always put consumers’ interests first. He has particular expertise in mortgages, pensions and savings. Read more