In practice, no—you generally cannot get a true 0% deposit mortgage in the UK from mainstream lenders.
Here’s how it works:
- Most lenders require at least a 5% deposit. First-time buyers can often access 95% loan-to-value (LTV) mortgages, meaning they need to contribute 5% of the property’s purchase price.
- 100% mortgages do exist in limited circumstances, but they are rare and usually require extra security, such as:
- A family member acting as a guarantor.
- A family member placing savings with the lender as security.
- Additional property being used as collateral.
Alternatives if you have no deposit
If you don’t have savings for a deposit, you may be able to buy through:
- Guarantor mortgages – A family member guarantees the loan if you can’t make repayments.
- Family-assisted mortgages – A relative’s savings or property helps secure the mortgage.
- Shared ownership – You buy a share of a property and pay rent on the remainder, reducing the amount you need to borrow.
- Government schemes – Depending on where you are in the UK and current policy, there may be regional or first-time buyer support schemes available.
Things to keep in mind
Even if you find a 100% mortgage, you’ll still need money for costs such as:
- Solicitor or conveyancing fees.
- Mortgage arrangement or valuation fees (if not included).
- Moving costs.
- Stamp Duty Land Tax, if applicable based on the property’s price and your circumstances.
A 100% mortgage also means:
- Higher monthly repayments than if you had a deposit.
- Potentially higher interest rates.
- Greater risk of negative equity if house prices fall.
So while a true 0% deposit mortgage is possible in a few niche cases, it’s not widely available, and most UK buyers should expect to need at least a 5% deposit.
