100% Mortgages
Can You Get a 100% Mortgage in Scotland?
A small number of lenders offer mortgages with no deposit, usually with strict rules. Some are for renters with a strong rent payment history, others need family support. Here is how they work, the risks and the alternatives.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
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How They Work
No Deposit, but Strict Criteria
100% mortgages exist, but only from a handful of lenders and not for everyone.
- ✓Renters: some lenders want 12 months of rent paid on time
- ✓First time buyers: usually only for those buying their first home
- ✓Family assisted: some deals use a family member's savings or property as security
- ✓Higher rates: usually more expensive than 5% or 10% deposit deals
How We Help
Before You Apply
Five things to know.
Check Your Rent History
Bank statements showing rent paid on time are usually needed.
Clean Credit
Most 100% lenders want no recent missed payments.
Affordability
Some lenders check the mortgage is no more than your rent.
Property Limits
Some exclude new build flats or certain properties.
Compare Alternatives
LIFT, gifted deposits or 95% may work out better.
Risks and Alternatives
Is 100% Right for You?
Weigh up the options.
Common Questions
100% Mortgage Questions, Answered
The things buyers ask us most.
Are 100% mortgages available in Scotland?
A small number of lenders offer them across the UK, including Scotland, with strict criteria.
Who can get a 100% mortgage?
Usually first time buyers with a strong rent history and good credit, or with family support.
Are 100% mortgages a good idea?
They can help some people buy sooner, but there are risks like negative equity. We will talk you through both sides.
What are the alternatives?
A 95% mortgage, the LIFT scheme, a gifted deposit or a family support mortgage.
Do I still need money to buy?
Yes. You will still need money for solicitor fees and moving costs.
Can I get 100% on a new build?
Some lenders exclude new build flats. Houses may be possible.
Related guides
- Buying with a 5% deposit
- LIFT shared equity scheme
- Family support and guarantor mortgages
- Gifted deposit mortgages
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
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No Deposit Yet?
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