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100% no-deposit mortgages are back



100% no-deposit mortgages have made a return for the first time since 2008.

It means first-time buyers can step onto the property ladder without saving for a deposit or having a guarantor.


Instead, first-time buyers must show they have paid their rent on time for the past 12 months. They must also meet the lender’s credit score and affordability criteria.

Skipton Building Society's Track Record Mortgage is aimed at first-time buyers who are currently renting.


The Track Record Mortgage offers a fixed interest rate of 5.49% for five years, with a maximum term of 35 years.



A 100% no-deposit mortgage is a loan for the full purchase price of the property you’re buying. Normally, you would put down a deposit - often around 10% to 20% of the property price - and borrow the rest from a mortgage lender.


With a 100% mortgage, you need zero deposit - which overcomes the challenge of saving for a deposit. The no-deposit mortgage from Skipton is a fixed-rate mortgage for five years, which means the interest you pay will stay the same for the first five years of your term.


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