100 percent mortgage

A 100% mortgage is a home loan that allows you to buy a property without putting down any deposit. Before the 2008 financial crisis, deposit-free mortgages were widely available, with some lenders even letting borrowers take out more than the property’s value to cover living costs. After the crash, these products disappeared from the market. In 2023, as first-time buyers continued to struggle with high rents and rising living costs, some lenders began to reintroduce 100% mortgages. For example, if you wanted to buy a property worth £325,000, you could borrow the full £325,000. Any lender offering such a product…