A no-deposit mortgage allows a buyer to borrow up to 100 percent of the property value without providing a personal deposit. These products are uncommon and only available under strict circumstances.

Some lenders may offer a no-deposit option for applicants who have a strong record of consistently paying rent each month, or for those supported by a family guarantor who provides additional security. The lender will assess affordability using regular criteria such as income, credit history and financial commitments.

A no-deposit mortgage is not the same as a low-deposit mortgage. Low-deposit options, such as products available through the Mortgage Guarantee Scheme, typically require at least a 5 percent deposit and follow standard residential lending rules.

No-deposit options carry additional risk for lenders; therefore eligibility is limited. Borrowers should review all terms carefully and consider long-term financial resilience before applying.