Apply for a 100% Mortgage in the UK | Buying a first home often means paying high rent while trying to save for a deposit. This can slow progress onto the property ladder. Recent figures show the average UK first-time buyer deposit is £61,090. In London, the average deposit rises to £124,688. For many buyers, this equals around 20 per cent of the purchase price.
April Mortgages has introduced a 100 per cent loan-to-value mortgage to address this challenge. The product allows buyers to purchase a home without a cash deposit. It is designed for renters with stable income who can afford monthly repayments but struggle to save.
This guide explains how the April Mortgages no-deposit mortgage works, who it may suit, and the risks to consider. It also explains why professional mortgage advice is essential.
What is a 100% Mortgage?
A 100% mortgage allows you to borrow the full purchase price of a property without paying a deposit. April Mortgages launched this product in 2024 with a structure that differs from earlier schemes.
Borrowers must choose either a 10-year or 15-year fixed-rate term. Interest rates start higher than standard mortgages but reduce automatically as your loan-to-value improves. This means your rate can fall over time without switching lenders.
Unlike some no-deposit options, no guarantor is required. Affordability is assessed using income, outgoings, and credit history.
Borrowing is available up to 4.49 times your annual income. Loan amounts range from £50,000 to £600,000, subject to lender criteria. Properties must be valued at £75,000 or more. Flats and new build properties are not eligible.
Applicants must be UK residents with a minimum household income of £24,000. Applicants must be under 70 at application or under 80 at the end of the mortgage term. A strong credit history is required.
Why a 100% Mortgage Matters
For many households, saving a deposit is harder than affording monthly mortgage payments. High rents make saving difficult across much of the UK.
Average deposits in the South East exceed £61,000. In the East of England, the average deposit is over £56,000. Many renters remain stuck paying rent despite being able to afford mortgage repayments.
A 100 per cent mortgage allows buyers to redirect rent payments into home ownership and begin building equity sooner.
How April Mortgages Compares to Other No Deposit Options
Skipton Building Society
Skipton reintroduced a 100 per cent mortgage in 2023. Applicants must demonstrate 12 months of on-time rent payments. The product is usually offered on a five-year fixed rate. Borrowing is capped at 4.49 times income, and rates do not reduce automatically as equity builds.
Gable Mortgages
Gable launched its own 100 per cent mortgage in 2025. Five-year fixed rates start around 6.29 per cent. New build options may be available at lower rates. Some key workers can borrow up to five times their income, but minimum age and loan size restrictions apply.
April Mortgages Unique Structure
April Mortgages requires a longer fixed commitment. In return, borrowers benefit from lower rates as their loan-to-value ratio improves. The focus is on long-term access to home ownership rather than short-term pricing.
For updates on recent pricing changes, see April Mortgages Cuts Rates as LTV Improves.
Benefits of the April Mortgages 100 Per cent Mortgage
Many first-time buyers are attracted to this scheme for several reasons.
- You can buy without saving a deposit.
- Long fixed rates provide payment certainty.
- Interest rates reduce automatically as equity builds.
- Unlimited overpayments are allowed without penalty.
- You can sell your property during the fixed term if needed.
Borrowers who expect income growth may benefit from the ability to overpay and repay their debt faster.
Risks and Important Considerations
A 100 per cent mortgage is not suitable for everyone.
- If property prices fall, you could end up in negative equity.
- Monthly repayments are higher than with a deposit.
- Early repayment charges apply if you switch lenders during the fixed term.
- You are committing to a long fixed-rate period.
- Property choice is limited, as flats and new builds are excluded.
Strict affordability and stress testing still apply. Approval is not guaranteed.
Is a 100% Mortgage Right for You
This type of mortgage may suit you if:
- You earn at least £24,000 and have a strong credit record.
- You can afford repayments but struggle to save a deposit.
- You plan to remain in the property for ten years or longer.
- You understand the risks of negative equity and higher borrowing.
If you have a small deposit, alternative products may offer lower rates. Some buyers may benefit from a First-Time Buyer Mortgage or a Home Mover Mortgage with April, if their circumstances allow.
How Connect Mortgages Can Help
Connect Mortgages provides whole-of-market mortgage advice tailored to individual circumstances. We assess affordability, plans, and potential risks before recommending a suitable mortgage solution. When a 100% mortgage is not appropriate, we explore alternatives that may offer more substantial long-term value.
April Mortgages products are only available through regulated mortgage advisers, such as Connect Mortgages. We support clients throughout the entire mortgage process, from initial assessment through to completion.
Mortgage professionals can also benefit from our network support. Brokers who are not currently on the April Mortgages panel can still assist their clients through our April Mortgages Referral. This allows advisers to place cases with April Mortgages while remaining fully involved in the client journey.
For more information on broker access and support, visit our April Mortgages referral page at connectbrokers.co.uk/april-mortgages/.
Ready to Take the Next Step
April Mortgages 100% mortgages can help the right buyer step onto the property ladder. They are not suitable for everyone, but they can provide a route to homeownership when saving a deposit is not possible.
Use the April Mortgages option below to submit an enquiry.
Thank you for reading our “100% Mortgage Options | April Mortgages First-Time Buyers” publication. Stay “Connect“-ed for more updates soon!
