How to get a mortgage without a deposit

Mortgages which require no deposit from a house buyer have returned to the market - making it easier for people to get on, or move up the property ladder.

Since the financial crash, buyers have needed to give the bank at least a 5% cash deposit based on the purchase price.

Barclays has now launched a 100% mortgage product which removes the need for those buying their first home or home-movers to put down a penny in advance. 

Instead, they need a helper - perhaps a parent or friend - to put cash equating to 10% of the house purchase price into a Barclays savings account and keep it there for three years.

Aberdein Considine is an independent broker of mortgages and can access more than 3,000 home loans from all major lenders as well as exclusive offers which cannot be found on the high street. 

You can apply for a 100% mortgage at any of our branches across Scotland.

How does it work?

The "helper" of the buyer (normally the parents) would have to put 10% of the purchase price into a “Helpful Start Account” which they will get back after 3 years with interest as long as the repayments on the mortgage are kept up.

The helpers are not a guarantor on the mortgages - so have no responsibility on the mortgage.

What's the terms and criteria?

The mortgage is on 3 year fixed rate of 2.69% and the money can be borrowed over a maximum term of 25 years.

This is available to first time buyers and also home movers, but must be their only mortgage.

The buyer will own the property 100%. Normal lending criteria applies also for this mortgage.

Speak to an adviser

If you wish to speak to one of our independent advisers about a 100% mortgage, call 0333 0044 333 or click here.

* Note: Your home may be repossessed if you do not keep up repayments on your mortgage. Full terms and conditions available upon request.