100% Mortgages 2026 | No Deposit Mortgage Guide |

A 100% mortgage lets you borrow the full value of a property, with no deposit needed. After all but disappearing from the market post-2008, genuine no-deposit mortgages are back — led by Skipton Building Society's Track Record Mortgage, and now joined by lenders including April Mortgages, Gable Mortgages, Melton Building Society, Hanley Economic and Family Building Society.

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Are you a first-time buyer and struggling to save up for a deposit? If so, a 100% loan-to-value (LTV) mortgage could be your route onto the property ladder. These mortgages aren't for everyone, and eligibility is strict, but the market has changed a lot since this guide was first published, this update explains exactly where things stand in 2026 and how Hello Mortgage, as a whole-of-market broker, can help you find the right option.

What is a 100% mortgage?

A 100% LTV mortgage — also called a no-deposit or zero-deposit mortgage — allows you to borrow the entire purchase price of a property. You put down no cash of your own, and the lender finances 100% of the cost.

Until recently, the only way to get one was through a guarantor mortgage, where a family member secures the loan against their own home or savings. That's changed. Since 2023, a growing number of lenders now offer 100% mortgages that don't require a guarantor at all, based instead on your rental payment history, credit profile, and income.

Which lenders offer 100% mortgages in 2026?

The 100% LTV market has genuinely expanded over the past two years. Current options include:

• Skipton Building Society – Track Record Mortgage: the product that restarted the market in 2023. Designed for renters with a consistent 12-month payment history and no guarantor needed. Also available on new-build houses and flats (though developer incentives over 2% of the purchase price aren't accepted).
• April Mortgages: 100% LTV lending across England and Wales (up to £2.5 million property value in Greater London), with rates that automatically reduce as you build equity and pay down the loan.
• Gable Mortgages: five-year fixed 100% LTV deals, priced separately for standard and new-build properties, available through brokers.
• Melton Building Society: a five-year fixed 100% LTV product, manually underwritten, now available nationwide.
• Hanley Economic Building Society: a 100% LTV Rent-to-Own product, now offered across England, Wales and Scotland with no postcode restrictions.
• Family Building Society – Family Mortgage: up to 100% LTV for buyers and movers with family support, where relatives provide security (savings or a charge over their own property) equal to 20% of the purchase price, rather than a cash gift.
• Metro Bank – Joint Borrower Sole Proprietor: launched in July 2026, allowing a family member's income to support the application without them being on the property's title.

Rates on 100% mortgages are significantly higher than lower-LTV products — broadly in the 5.65%–6.99% range at the time of writing, against sub-5% rates typically available at 90–95% LTV. Fees, criteria, and property eligibility vary a lot between these lenders, which is exactly where using a whole-of-market broker like Hello Mortgage earns its keep — we can tell you quickly which of these products you'd actually qualify for.

Rates and product availability change frequently. Speak to one of our advisers for current, personalised figures.

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Do you need a guarantor?

Not necessarily anymore. It depends on the product:

• Guarantor-free options (e.g. Skipton's Track Record Mortgage) assess you on your own rental payment history and affordability — no family member needs to be involved.
• Guarantor and family-assisted mortgages still exist and can be a good option if you have family willing to help. A homeowner relative agrees to have a legal charge placed over their property, or to keep savings with the lender, typically equal to around 20% of the purchase price. If you fall behind on payments, this puts your guarantor's own home or savings at risk — so it's a decision that shouldn't be taken lightly, on either side.

Typical eligibility criteria

Requirements vary by lender, but most 100% mortgages look for:

• A minimum of 12 months' consecutive rental payments (often within the last 18 months), paid on time
• A clean credit history, with no missed payments on any credit commitments in the last 6 months
• Stable, provable income — employed or self-employed
• Age minimums (commonly 21+)
• Property type and location restrictions — some lenders exclude certain new-builds, flats above a certain height, or specific postcodes

Because these are manually underwritten, higher-risk products, expect a more thorough affordability assessment than on a standard mortgage.

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Pro’s and con’s of a 100% LTV Mortgage
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Pros:

1. Get on the property ladder without years spent saving a deposit
2. No need to rely on family for a gifted deposit
3. You start building equity immediately, rather than paying rent with nothing to show for it
4. Some products (like April Mortgages) reduce your rate automatically as your LTV falls

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Cons:

1. Higher interest rates than deposit-backed mortgages, meaning higher monthly repayments
2. Greater risk of negative equity — with no deposit buffer, even a small drop in property value can leave you owing more than the home is worth
3. Fewer lenders to choose from, and stricter underwriting
4. Harder to remortgage or move while in negative equity
5. If a guarantor is involved, your default puts their assets at risk too

As always, it's worth weighing this against your personal circumstances — an adviser can talk you through what your repayments would realistically look like and whether the risk profile suits you.

Government schemes: what's actually available in 2026

There's no government scheme specifically for 100% mortgages. But two things affecting deposit requirements have changed since this guide was first published, and it's worth being clear on both:

• Help to Buy (the equity loan scheme) closed to new applications in October 2022 and has not been replaced with a like-for-like scheme.
• The Mortgage Guarantee Scheme, which backs 91–95% LTV mortgages (not 100%), was made permanent in July 2025 under the "Freedom to Buy" name. It works behind the scenes — the government guarantees part of a lender's losses on 95% LTV deals — so in practice it doesn't change what you as a buyer need to do, beyond making 95% mortgages more consistently available. You still need to pass full affordability checks. If a 5% deposit is realistic for you, it's worth comparing this route against a 100% mortgage, since rates are typically much lower.

Recent lending rule changes worth knowing about

The Financial Conduct Authority (FCA) has been actively reviewing mortgage affordability rules through 2025 and 2026, and several changes are already affecting how much people can borrow:

• Interest rate stress test flexibility (March 2025): the FCA confirmed lenders have more flexibility in how they apply the "stress test" that checks you could cope with future rate rises. Around 85% of the market has since eased its approach, with lenders able to offer roughly £30,000 more to a typical applicant.
• Loan-to-income limits: some mainstream lenders have pushed their maximum income multiples up, with certain products now going as high as 5.5–6.5x income for qualifying borrowers, up from the traditional 4.5x standard.
• Ongoing FCA Mortgage Rule Review: following its Discussion Paper (DP25/2) and Feedback Statement (FS25/6, published December 2025), the FCA is consulting through 2026 on further changes — including greater flexibility for first-time buyers and the self-employed, and using rental payment history as evidence of affordability. No further rule changes have been confirmed yet, but this is the direction of travel, and it's part of why guarantor-free, rental-history-based products like Skipton's Track Record Mortgage have been able to emerge.

None of this removes the need for a full affordability assessment but it does mean borrowing capacity has genuinely increased for many buyers over the past year, which is worth factoring in alongside whether a 100% mortgage is the right route for you.

Alternatives to a 100% mortgage

A 100% mortgage isn't the only way to reduce how much deposit you need:

• 95% LTV mortgage: requires just a 5% deposit, with meaningfully lower rates than 100% products, and wider lender choice — including via the Freedom to Buy mortgage guarantee scheme.
• Shared ownership: buy a share of a property (often from 10%) and pay rent on the rest.
• Lifetime ISA (LISA): save towards your first deposit and receive a 25% government bonus on contributions, up to £1,000 a year.
• Guarantor and family-assisted mortgages: covered above — useful if you have family able and willing to help without gifting cash outright.

Speaking to an experienced mortgage adviser at Hello Mortgage is the fastest way to work out which of these actually fits your situation.

Conclusion

100% mortgages are a realistic option again for the right borrower — particularly renters with a strong, consistent payment history who don't have family able to help with a deposit. But they come with higher rates, stricter eligibility, and greater exposure to negative equity than lower-LTV alternatives. For most first-time buyers, it's worth comparing a 100% mortgage against a 95% deal and the other options above before deciding.

Why use Hello Mortgage?

We're a whole-of-market mortgage broker, which means we search across 100% LTV specialists and mainstream lenders alike to find what you're actually eligible for — not just what one lender is willing to offer. Free initial advice, no obligation, and it won't affect your credit score to get started.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.