No Deposit Mortgages
100% LTV Mortgage Guide - Updated June 2026
Compare all UK lenders offering genuine 100% mortgages. Expert guidance to help you get on the property ladder without saving for a deposit.
Our Services
Rates last checked: 23 June 2026
Mortgage rates, fees and lending criteria can change at any time - even on the same day - and products can be withdrawn without notice by the lender. Do not rely on these figures when making a decision. Always confirm the current rate and criteria directly with the lender (bank) or a qualified mortgage adviser before proceeding. This information is provided for guidance only and does not constitute a mortgage offer or a guarantee of availability or terms.
No Deposit Mortgage Calculator
Compare monthly payments across all 100% LTV lenders instantly
Used to calculate rent-based caps for Skipton and Hanley
Important - Do not rely on this calculator. The results shown are rough estimates based on publicly available product criteria last checked on 23 June 2026. They do not constitute a mortgage offer or guarantee of eligibility.
Your actual borrowing capacity and eligibility depend on many factors this calculator cannot assess, including but not limited to:
- Your credit history and credit score
- Existing financial commitments and debts
- Number of dependants and childcare costs
- Employment type and stability
- Monthly living expenses and spending patterns
- The specific property you wish to purchase
- Each lender's full manual underwriting assessment
Rates, fees, and criteria can change at any time - even on the same day - and products can be withdrawn without notice. Do not rely on these figures; always confirm the current rate directly with the lender (bank) or a qualified mortgage adviser before making any financial decisions. Contact us for a free, no-obligation consultation.
The Return of Zero-Deposit Lending
For more than a decade following the 2008 financial crisis, the 100% Loan-to-Value mortgage was entirely absent from the UK lending market. During that prolonged absence, a systemic "rent trap" emerged. Stagnant real wage growth combined with aggressive rental inflation created a generation of creditworthy individuals who possessed the monthly cash flow to service a mortgage but lacked the disposable income to accumulate a traditional 5-10% deposit.
That has now changed. Recognising the fundamental market failure excluding reliable renters from homeownership, financial institutions have pioneered a return to zero-deposit lending, substituting traditional capital collateral with empirical, cash-flow-based behavioural underwriting. Initially catalysed in 2023 by Skipton Building Society, the market has expanded to include bespoke offerings from Hanley Economic Building Society, Melton Building Society, and April Mortgages.
These contemporary 100% LTV products are fundamentally different from their pre-2008 predecessors. They are rigorously ring-fenced by Loan-to-Income caps, restrictive property eligibility criteria, and mandatory manual underwriting processes. Interest rates range from 5.55% to 6.75%, reflecting a substantial risk premium for the absence of a deposit buffer.
4
Active UK Lenders
5.55%
Lowest Rate Available
£600k
Maximum Loan Amount
£0
Lowest Fee Option
100% LTV Mortgage Rates - June 2026
Bank of England base rate: 3.75%
| Lender | Fixed Rate | Fixed Term | APRC | SVR | Total Fees |
|---|---|---|---|---|---|
| Skipton Building Society | 5.55% | 5 years | - | 6.29% | £0 |
| Hanley Economic | 6.73% | 5 years | 7.50% | 7.74% | £0 |
| Melton Building Society | 6.05% | 5 years | - | 8.14% | £199 (£199 cashback) |
| April Mortgages | 6.55% | 10 years | 7.03% | 7.50% | £1,190 |
| April Mortgages | 6.75% | 15 years | 7.17% | 7.50% | £1,190 |
100% LTV Lenders - Detailed Breakdown
As of 23 June 2026, four UK lenders offer genuine 100% Loan-to-Value mortgages. Each has distinct eligibility rules, rate structures, and property restrictions. Here is a detailed look at each. Rates can change at any time - even on the same day - and products can be withdrawn without notice, so always confirm the current rate with the lender or your mortgage adviser before relying on it.
Skipton Building Society
The pioneer of modern zero-deposit lending (Track Record Mortgage)
Interest Rate
5.55%
Total Fees
£0
Max Loan
£600,000
Product code TM078 (£0 product fee, £0 cashback) - the cheapest fee-free Track Record purchase rate. A TM079 variant is priced at 5.69% but comes with £1,000 cashback and a £100,000 minimum loan. Applicants must be at least 21 years old, be first-time buyers (or not have owned UK property in the last 3 years), and provide 12 consecutive months of flawless rental payments within the preceding 18 months.
You must also demonstrate 12 months of household bill payments without default and have zero missed payments on any credit commitments in the last 6 months.
No arrangement, completion, or product fees. Minimum loan £5,000, maximum £600,000. Maximum term is 40 years. Capital and interest repayment only.
Available in England, Wales, and Scotland. Flats are subject to referral and severe restriction. New builds are restricted as the product is designed for greater than 95% LTV lending.
Skipton - Additional 100% LTV Options
Beyond the standard Track Record Mortgage, Skipton also offers two specialist 100% LTV products. These are not included in the calculator above but may suit specific circumstances.
Delayed Start Track Record Mortgage
Product codes TA018-TA020 / TB018-TB020. Identical to the standard Track Record Mortgage but with a 3-month payment holiday at the start. You make no mortgage payments for the first three months after completion, giving you time to settle in and manage moving costs. The fixed rate starts at 5.61% to account for the delayed start.
Rate
from 5.61%
Fixed Until
31/10/2031
Fees
£0
Loan Range
£5k - £600k
Reverts to RMVR (6.29%) after fixed period. ERC: 5/5/4.5/3/1.5%. Capital and interest only. Track Record purchase only.
Shared Ownership Track Record Mortgage
Product code ST028. Designed for shared ownership purchases at 100% LTV, you borrow 100% of your share of the property with no deposit required. This combines the Track Record criteria with shared ownership eligibility, allowing first-time buyers to access the property ladder through a housing association share purchase.
Rate
5.69%
Fixed Until
31/10/2031
Fees
£0
Loan Range
£25k - £600k
Reverts to RMVR (6.29%) after fixed period. ERC: 5/5/4.5/3/1.5%. Capital and interest only. Track Record purchase only.
Hanley Economic Building Society
Rent to Own Mortgage - zero fees, manual underwriting
Interest Rate
6.73%
Total Fees
£0
Max Loan
£350,000
Requires minimum household income of £25,000 and 12 months of continuous, punctual rental payments. Hanley explicitly avoids automated credit scoring, offering flexibility for thin credit files.
Originally restricted to the Stoke-on-Trent postcode area, the product has expanded nationwide. Scottish island properties are subject to manual referral.
Product code MFD675. The APRC is 7.50%, reverting to a 7.74% SVR after the 5-year fix. Minimum loan of £30,000, maximum of £350,000. New build houses and flats (up to 5 floors) are capped at 95% LTV, making them incompatible with this 100% LTV product.
All flats and new builds are effectively excluded. Buyers must purchase pre-owned houses only.
Melton Building Society
No rental history required - ideal for those living with family
Interest Rate
6.05%
Total Fees
£199 (£199 cashback)
Max Loan
£500,000
Applicants must be at least 23 years old, with the mortgage clearing before age 80. Strictly for first-time buyers, though in joint applications only one applicant must be a true FTB.
Powered in partnership with Gable Sure. Originally restricted to the East Midlands and Legal & General Mortgage Club, now available to the entire nationwide broker panel.
Product code GF002, fixed to 31 July 2031 then reverting to Melton's 8.14% SVR. Maximum term of 40 years. Minimum loan of £25,000, maximum of £500,000. Minimum property value of £90,000.
England and Wales only - Scotland is completely excluded. Total prohibition on all flats, maisonettes, and new build properties. Must be standard freehold houses or bungalows of traditional construction.
April Mortgages
Ultra-long fixed rates with automatic rate reduction as equity builds
Interest Rate
6.55%
Total Fees
£1,190
Max Loan
£600,000
Backed by Dutch asset management conglomerate DMFCO. Targets high-earning professionals with strong monthly income but no savings. Minimum household income of £24,000.
Applicants must be under 70 at application with the mortgage clearing before age 80. LTI is strictly capped at 4.49x gross income.
Non-refundable application fee of £195 plus £995 completion fee (can be added to loan). Valuation fees waived for properties up to £1 million.
Available in England, Wales, and Scotland. Absolute ban on flats, maisonettes, and all new build properties. Must be an established house with minimum valuation of £75,000.
Eligibility Criteria by Lender
| Criteria | Skipton | Hanley | Melton | April |
|---|---|---|---|---|
| First-time buyer only | ||||
| Minimum age | 21 | - | 23 | - |
| Maximum age at end of term | - | - | 80 | 80 |
| Minimum income | - | £25,000 | - | £24,000 |
| 12-month rental history required | ||||
| LTI cap | 4.49x | Manual | Manual | 4.49x |
| Rent-to-payment cap | 150% | 133% | N/A | N/A |
| Maximum loan | £600k | £350k | £500k | £600k |
| Maximum term | 40 years | - | 40 years | - |
Property Eligibility by Lender
| Property Type / Region | Skipton | Hanley | Melton | April |
|---|---|---|---|---|
| England | ||||
| Wales | ||||
| Scotland | Referral | |||
| Pre-owned houses | ||||
| Pre-owned flats | Referral | |||
| New build houses | ||||
| New build flats | ||||
| Minimum property value | - | - | £90,000 | £75,000 |
Think a no-deposit mortgage could work for you? Message us on WhatsApp
We will check your eligibility across all four 100% LTV lenders at once. Free, no-obligation advice from an FCA-regulated broker.
We reply fastest on WhatsApp, message us anytime.
Why New Builds and Flats Are Excluded
New Build Properties
New residential developments carry a "developer's premium" - a markup reflecting pristine condition, marketing costs, and builder profit margins. This premium typically evaporates the moment the initial transaction completes, resulting in immediate depreciation on the secondary market. Financing a new build at 100% LTV would create mathematical certainty of immediate negative equity, violating responsible lending principles and PRA capital requirements.
Flats and Maisonettes
Flats introduce complex layers of structural and legal risk. They are overwhelmingly sold on a leasehold basis, introducing variables such as escalating ground rents, variable service charges, and lease depreciation. Following the cladding crises of the late 2010s, high-density residential buildings also represent elevated collateral risk. Zero-deposit lenders require absolute certainty regarding the liquid resale value of the security, and flats with their shared structural liabilities and leasehold complexities typically fail to meet this standard.
Early Repayment Charges & Overpayments
| Feature | Skipton | Hanley | Melton | April |
|---|---|---|---|---|
| ERC during fixed period | 5/5/4.5/3/1.5% | 3% | Yes | Up to 9% |
| Annual overpayment allowance | - | 10% p.a. | - | Unlimited |
| ERC waived on house sale | - | - |
Regional Considerations
Scotland
Scottish homeowners face reduced options. Melton Building Society completely refuses Scottish property deeds as viable security. This leaves Scottish buyers reliant on three lenders: Skipton (with zero fees), April (with decade-long lock-in periods), or Hanley (with its lower £350,000 maximum and referral process for Scottish islands).
England and Wales
All four lenders operate across England and Wales, providing the widest choice of products and the most competitive rates. Buyers in these regions can compare all options to find the best fit for their circumstances.
Understanding the Risks
The overarching systemic risk of zero-deposit lending is the immediate threat of negative equity should house prices fall. Without the equity buffer traditionally provided by a deposit, the borrower has no protection against asset devaluation.
With a 90% mortgage (10% deposit), property prices would need to fall by more than 10% before negative equity becomes a risk. With a 100% mortgage, even a small price decline creates this situation. In the early years of repayment, a larger portion of monthly payments goes towards interest rather than reducing capital, keeping LTV high.
Negative equity can significantly impact your financial situation: it may make it difficult to remortgage, move house, or access competitive rates (given very limited product availability for those with LTV at 95% or higher).
- You could owe more than your property is worth if house prices fall
- Moving house may be difficult or impossible while in negative equity
- Remortgaging options are severely limited at very high LTV ratios
- The higher interest rates on 100% products mean you pay significantly more over the mortgage term
- Early Repayment Charges can be punitive, especially with longer fixed terms
Who Can Benefit from a 100% Mortgage?
Long-term Renters
If you have been renting for over 12 months with a flawless payment record, Skipton and Hanley Economic are designed specifically for you. Your rental track record becomes your deposit equivalent.
Living with Family
If you live rent-free with parents or family, Melton Building Society and April Mortgages do not require rental history. Your income and creditworthiness are assessed independently.
High Earners Without Savings
Professionals with strong monthly income but no capital savings. April Mortgages targets this demographic specifically, offering ultra-long fixed rates with automatic rate reductions as equity builds.
Thin Credit Files
If automated credit scoring systems have rejected you but your cash-flow management is impeccable, Hanley Economic's manual underwriting process may offer a path forward.
Alternative Options
If you do not qualify for a 100% mortgage or if the higher interest rates are a concern, there are other options. We can help you access mortgages from £100,000 to £500,000 with a low deposit of just £5,000.
If you can save even a 5% deposit, five-year fixed-rate mortgages at 95% LTV are available at significantly lower rates. The difference in cost over the lifetime of the mortgage can be substantial.
We also assist with Shared Ownership, First-Time Buyer schemes, and other government-backed programmes that may help you get on the property ladder with minimal savings.
Ready to Get Started?
We will assess your eligibility across all 100% LTV lenders simultaneously and find the best option for your circumstances. The initial consultation and analysis is free of charge.
Speak to Our Mortgage Advisers
01302 590039
Direct line
Email us
Rates last checked: 23 June 2026
Mortgage rates, fees and lending criteria can change at any time - even on the same day - and products can be withdrawn without notice by the lender. Do not rely on these figures when making a decision. Always confirm the current rate and criteria directly with the lender (bank) or a qualified mortgage adviser before proceeding. This information is provided for guidance only and does not constitute a mortgage offer or a guarantee of availability or terms.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Frequently Asked Questions
Related Services
First-Time Buyer Mortgages
Step-by-step guide and lender options for your first home.
Shared Ownership
Buy a share, pay rent on the rest. Lower deposit threshold.
100% LTV Calculator
Compare Skipton, Hanley, Melton and April side by side.
Bad Credit Mortgages
Specialist lenders for missed payments, defaults or CCJs.
Last updated: 23 June 2026