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 start at approximately 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:
- Minimum income – you’ll usually need a household income of at least £24,000.
- 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).
- Credit profile – applicants must have a clean credit history and demonstrate at least 12 months of on‑time rent payments.
- 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 process and assess whether this product is suitable for your circumstances.
Benefits of a 100 % Mortgage
- Step onto the ladder sooner – if saving a deposit is your only barrier, a 100 % mortgage can help you buy sooner.
- 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.
- Rate reduction built in – as you repay and your LTV improves, your mortgage rate automatically drops.
- 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:
- 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.
- 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.
- Long commitment – fixing for 10 or 15 years offers stability, but it may not suit everyone. If you need to remortgage due to a change in circumstances, you may be locked into 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. 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, depending on their circumstances.
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 pay rent monthly but can’t 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.
How Connect Mortgages Can Help
Connect Mortgages offers whole-of-market mortgage advice tailored to each client’s circumstances. Our advisers review affordability, plans, and potential risks before recommending a suitable mortgage solution. If a 100 per cent mortgage is not appropriate, we will explore alternative options that may provide better long-term value.
April Mortgages products are only available through regulated mortgage advisers, including Connect Mortgages. We guide clients through every stage of the mortgage process, from initial assessment through completion, ensuring clear communication and ongoing support.
Mortgage professionals can also benefit from our wider network support. Brokers who are not currently on the April Mortgages panel can still help their clients by using our April Mortgages referral option. This allows advisers to place cases with April Mortgages while remaining involved in the client relationship and advice process.
Further information on broker access and professional support is available through the April Mortgages referral section of the Connect Group.
Use the April Mortgages option below to submit an enquiry.
Thank you for reading our “Can First‑Time Buyers Get a Mortgage with No Deposit?” publication. Stay “Connect“-ed for more updates soon!
