Buy Your Home with £0 Deposit
April Mortgages announce 0% deposit mortgage
Getting on the property ladder just got a whole lot easier.
One of our lenders, April, has launched a brand new mortgage product – and it could mean you no longer need to save up for a deposit at all. That’s right: 0% deposit, 100% Loan-to-Value (LTV), and a real opportunity for eligible buyers to move in sooner than they thought possible.
Let’s take a closer look at what’s on offer.
Who is the No Deposit mortgage for?
This product is designed for homebuyers with a strong financial profile, but without a deposit saved. To be eligible, you’ll need to:
✔ Be a UK resident
✔ Have a household income of at least £24,000
✔ Have a good credit history
✔ Be buying a house (not a flat or new build) worth over £75,000
✔ Be under 70 years old at the time of application (and under 80 by the end of the term)
What kind of property can I buy?
This mortgage is available for houses only – sorry, flats and new builds aren’t included – and the property must be your main residence.
How much can I borrow?
With this product, you can borrow 100% of the property’s value*, meaning there’s no need for a deposit.
It’s important to understand the risks: if house prices drop, you could fall into negative equity, which may make it harder to move or remortgage later on. That’s why the lender carries out detailed affordability checks to ensure it’s the right fit for you now – and in the future.
*Subject to the lenders standard affordability checks
What are the benefits?
There are plenty of features built in to help make this mortgage work for you:
- 0% deposit required
- Fixed rates for 10 or 15 years
- Rate drops automatically as you repay more
- No early repayment charges if moving or repaying from your own funds
- Unlimited overpayments whenever you like
What are the risks?
As with any loan, there are always risks; with the 100% LTV mortgage the main one is that house prices can fall, leaving you in negative equity (where you owe more than the house is worth). We can answer any questions and address any concerns, and make sure you’re aware of all the risks and benefits before proceeding with your application. Remember, we’re here to help and make everything crystal clear for you.
Are there any other costs?
Yes – while you won’t need a deposit, you’ll still need to budget for other expenses like legal fees, Stamp Duty, valuation fees, and moving costs.
How do I apply?
This mortgage is only available through brokers – and advice is mandatory. That’s where we come in.
A qualified mortgage adviser will look at your financial situation, talk you through your options, and help you decide if this is the right route for you.
Could this be your key to buying sooner?
If saving for a deposit has been holding you back, this could be your chance to take the next step.
Get in touch with the team at Motion Mortgages and let’s find out if the April Mortgages No Deposit mortgage is the right move for you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. Initial consultations are completely free of charge. There's no obligation to proceed and our broker fee of £495 will only become payable at offer stage of your mortgage application. Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate some forms of Buy to Lets. Your property may be repossessed if you do not keep up repayments on your mortgage.
