💰 100% Mortgages for First-Time Buyers — Yes, They Do Exist
Think you need a huge deposit to buy your first home? Not necessarily. While the old “you need 10% down” rule still applies for most buyers, there are lenders out there offering 100% mortgages — meaning you could buy your first property without putting down a penny in savings.
🏦 How does it work?
Some lenders offer special deals for first-time buyers who meet certain criteria, like having a strong rental history, a guarantor, or a steady income. In a nutshell, they’re saying, “If you’ve been paying rent reliably every month, you can probably afford a mortgage too.”
💡 Why it could work for you:
If you’ve been stuck in the rent trap — paying someone else’s mortgage — this could be your way out. These schemes are designed to help renters become owners faster, without the years of saving that used to be required.
⚠️ But remember:
100% mortgages aren’t for everyone. They come with stricter affordability checks, and because you’re borrowing the full amount, you’ll want to be sure you can comfortably manage repayments. That’s where expert advice makes all the difference.
👋 Chat to our mortgage team to see if you qualify for one of these 100% mortgages. They’ll walk you through your options, compare lenders, and help you take that first confident step towards owning your home.