Can First‑Time Buyers Get a Mortgage with No Deposit? April Mortgages & Connect Mortgages Show It’s Possible
For many first‑time buyers, the biggest obstacle to owning a home isn’t the monthly mortgage payment – it’s the deposit. With rents rising and everyday expenses stretching budgets, saving even 5–10% of a property price can feel impossible. The good news is that zero‑deposit mortgages are back on the market.
In May 2025, April Mortgages launched a 100% loan‑to‑value (LTV) mortgage designed for creditworthy renters who can afford monthly repayments but haven’t been able to save a deposit. At Connect Mortgages, we’re proud to partner with April to help our clients access this unique no‑deposit mortgage. Below we explain how the product works, who might be eligible and what to consider before applying.
What is April Mortgages’ No Deposit Mortgage?
A 100% mortgage lets you borrow the full value of your home. There’s no need for a guarantor; instead, the loan is assessed on your income and credit score. The key features of the April Mortgages product are:
| Feature | Details |
|---|---|
| Deposit required | 0% – you borrow 100 % of the property price. |
| Fixed-term options | 10‑ or 15‑year fixed rates; Connect’s partnership with April also offers a 5‑year option for some applicants. |
| Starting rate | Interest rates begin at around 5.99 %. Rates automatically decrease as your loan‑to‑value improves. |
| Borrowing limits | Typically up to 4.49 × your income; in some cases, you may be able to borrow up to 7 × your income with flexible options like Interest Only+ or Part & Part. |
| Flexibility | No early repayment charges when you move or overpay; unlimited overpayments are permitted. |
April’s no‑deposit mortgage also offers a straightforward structure: as you pay off the loan and your loan‑to‑value (LTV) decreases, the interest rate automatically drops. That means your mortgage could become cheaper over time without the need to remortgage.
Who Can Apply for a 100 % Mortgage?
This product isn’t one‑size‑fits‑all, but it is open to a wide range of first‑time buyers and movers. Typical eligibility criteria include:
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Minimum income – you’ll usually need a household income of at least £24,000.
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Property value – the home must be worth £75,000 or more, and it must be located in England or Wales (flats or new‑builds may be excluded by some lenders).
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Credit profile – applicants must have a clean credit history and be able to show at least 12 months of on‑time rent payments.
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Affordability – lenders will check that you can comfortably afford the monthly mortgage payment.
Because it’s a standalone mortgage based on your income and credit, there’s no need for a guarantor. As Connect Mortgages is April’s exclusive referral partner, we’ll guide you through the application and assess whether this product fits your circumstances.
Benefits of a 100 % Mortgage
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Step onto the ladder sooner – if saving a deposit is your only barrier, a 100 % mortgage can help you buy sooner.
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Long‑term payment security – fixing your rate for 10 or 15 years means your payments stay predictable, giving you peace of mind even if interest rates rise.
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Rate reduction built in – as you repay and your LTV improves, your mortgage rate automatically drops.
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Freedom to overpay – there are no early repayment charges, so you can pay more whenever you like.
Experienced brokers also note that rent is “brutally expensive” and can make it harder to save; buying with a 100 % loan could cost no more than comparable rent, allowing you to “pay off your own mortgage rather than someone else’s”.
Can First‑Time Buyers Get a Mortgage with No Deposit? | Things to Consider
A no‑deposit mortgage isn’t right for everyone. You should be aware of:
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Higher initial rates – because the lender is taking on more risk, the starting rate is higher than if you put down a 5–10 % deposit.
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Risk of negative equity – if property prices fall and you’ve borrowed 100 % of the value, you could owe more than your home is worth. Brokers caution that borrowers must fully understand this risk.
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Long commitment – fixing for 10 or 15 years offers stability, but it may not suit everyone. If you need to remortgage because of a change in circumstances, you could be tied to a higher rate or face restrictions.
We believe that good advice is vital. Our experienced advisers will carry out a full affordability assessment and explain the pros and cons, so you can decide whether a no‑deposit mortgage is right for you.
Is It Right for You?
If you’re a first‑time buyer in Basildon, London or anywhere in the UK, and you have a reliable income but no deposit, this new product could be a game‑changer. It’s designed for people who are paying rent every month but can’t seem to save a lump sum. However, it’s not the only option available. There may be other mortgages, government schemes or shared‑ownership plans that could suit you better.
That’s where Connect Mortgages comes in. Our family‑run brokerage specialises in first‑time buyer mortgages, and our team loves helping people like you. We’re here to demystify mortgages by explaining everything in plain English and recommending the most suitable deals. Because we’re independent, we search the entire market to find the right solution – whether that’s a 100 % mortgage or a different product entirely.
Can First‑Time Buyers Get a Mortgage with No Deposit? | Ready to Explore a No Deposit Mortgage?
We make mortgages simple. If you’re curious about April’s 100 % mortgage or want to know how much you could borrow, we’d love to help. We’re April’s exclusive referral partner and can arrange your application from start to finish. And if April isn’t the right fit, we’ll show you other options.
Contact us today to arrange a free, no‑obligation chat with one of our friendly advisers. You can call us on 0203 935 1863 or click below to start your journey. Don’t let the deposit hurdle stop you – take the first step towards owning your own home.
👉 Start Your Journey with April Mortgages
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