Some UK lenders offer 100% mortgages subject to borrower and property criteria. A separate route uses a developer contribution with a 95% mortgage, where the lender accepts it as the entire deposit. Neither removes legal, tax and other purchase costs. April’s no-deposit explanation · Perenna’s incentive criteria
This page provides education and calculation tools, not regulated mortgage advice, an affordability decision or a live quote. Rates below are illustrations. A regulated adviser must confirm current products and suitability. Your home may be repossessed if you do not keep up repayments on your mortgage.
THREE ROUTES. ONE HOUSE. ONE HORIZON.
Buy now, or build the deposit?
Compare no buyer deposit, 20% deposit today, and renting until you have 20% plus costs. These are editable illustrations, not mortgage quotes or eligibility decisions.
Inputs stay in this page’s memory. They are not saved, sent to a lender or placed in the URL. Reloading resets them.
Your assumptions
Only use this switch after the lender confirms it accepts the full contribution without your own deposit. Keep the purchase price and rate consistent with the actual offer.
Rent-and-save reaches the 20% deposit and costs in month 95 under these assumptions. Results below stop at your selected horizon.
100% mortgage
£1,896 mortgage / month after purchase
Purchase
Today (if funded and approved)
Cash needed at purchase
£11,000
Extra capital required
£11,000
Rent paid
£0
Mortgage interest
£181,873
Principal repaid
£45,672
Purchase and product costs
£11,000
Owner upkeep
£30,000
Total spent excluding principal
£222,873
Mortgage still owed
£254,328
Home equity at horizon
£45,672
Cash at horizon
£12,456
Equity + cash − extra capital
£47,127
Unfunded illustration: needs £11,000 beyond your entered cash. No borrowing cost for that gap is assumed.
20% deposit now
£1,216 mortgage / month after purchase
Purchase
Today (if funded and approved)
Cash needed at purchase
£71,000
Extra capital required
£71,000
Rent paid
£0
Mortgage interest
£98,140
Principal repaid
£47,785
Purchase and product costs
£11,000
Owner upkeep
£30,000
Total spent excluding principal
£139,140
Mortgage still owed
£192,215
Home equity at horizon
£107,785
Cash at horizon
£94,075
Equity + cash − extra capital
£130,860
Unfunded illustration: needs £71,000 beyond your entered cash. No borrowing cost for that gap is assumed.
Rent, save, then buy
£1,216 mortgage / month after purchase
Purchase
End of month 95
Cash needed at purchase
£71,000
Extra capital required
£0
Rent paid
£142,500
Mortgage interest
£22,134
Principal repaid
£8,267
Purchase and product costs
£11,000
Owner upkeep
£6,250
Total spent excluding principal
£181,884
Mortgage still owed
£231,733
Home equity at horizon
£68,267
Cash at horizon
£19,849
Equity + cash − extra capital
£88,116
How this comparison works
Each route has the same monthly housing budget: starting rent plus monthly saving. Owners put what remains after mortgage payments and upkeep into cash. Rising rents reduce the saving route’s surplus. Savings interest applies only to positive cash.
Repayment mortgages amortise monthly at the entered rate throughout the term. A real fixed-rate deal may expire sooner: rerun with a higher rate to test sensitivity. Purchase costs include your own tax, legal, survey and initial works estimates; they stay fixed even if the house price changes. Get quotes before relying on them.
The renting route buys at the end of the first month when cash covers 20% of the projected price plus costs and product fees. Mortgage payments begin the following month. All routes end on the same date. A purchase beyond that horizon appears as continued renting.
Extra capital makes buy-now scenarios hypothetical when cash is insufficient. It is deducted from the final wealth measure so a larger deposit is not counted as investment profit. Equity is not spendable cash. Selling fees, refinancing costs, taxes on savings, inflation and any new-build premium are not modelled. No route is ranked as best.
No-deposit mortgage providers: different routes, different gates
Skipton Track Record
Up to 100% LTV for qualifying renters. Published criteria include 12 consecutive rent payments within 18 months and no UK property ownership in the preceding three years. New-build houses can qualify; new-build flats do not qualify at 100%.
A no-deposit new-build route is advertised through the Barratt Redrow group. This is not confirmation that every development or plot qualifies. Ask the sales team and nominated broker for the exact plot and product terms.
Published lending criteria allow financial incentives up to 5% of the lower of price or valuation, potentially covering the whole deposit subject to criteria. This is 95% borrowing, not a 100% loan. Fees must fit the lender’s LTV limit.
Product availability is not a personal eligibility result. Ask for a written illustration showing rate, APRC, fixed period, payments after that period, fees and early repayment charges. This directory does not supply a live rate feed.
Eight mortgage brokers to investigate
An evidence-led contact shortlist, not a recommendation or guaranteed lender panel. Fees and registration numbers below are firm-disclosed research, not a completed independent FCA permissions check. Confirm the legal entity, current permissions, whole-of-market scope and exact product access before applying. Check the FCA Register →
Reeds Financial
Disclosed FRN: 1058826
Fee: Written quote needed
Publishes a no-deposit service and a lender list including Skipton, April, Gable and Perenna. Confirm live access for the exact product.
Use each firm’s official website to contact it. No invented email addresses, assumed appointment availability or customer correspondence are included here.
Developer offers: examples to verify plot by plot
These are dated public advertisements, not a live availability feed or a household shortlist. Prices, tenure, incentives and reservation deadlines need fresh confirmation. Freehold tenure and zero-deposit eligibility have not been verified for the individual plots below.
Persimmon Valley Park, Didcot
Saunton three-bedroom houses advertised from £364,995.
Selected-plot deposit-paid promotions require written plot and lender confirmation. Zero buyer contribution remains unverified.
Own New Rate Reducer reduces borrowing costs and requires a buyer deposit. A separate promotion is not automatically available on this plot or accepted by a lender.
Can you place a 100% mortgage for this property, and with which lender?
For a developer contribution, does the lender accept the entire deposit without buyer cash?
What rate, APRC, product fee, broker fee and early repayment charges apply?
Which costs must be paid in cash, and when? Is the reservation payment refundable?
What evidence do you need for affordability, rent history, property condition and valuation?
Does zero deposit mean zero cash?
No. Model purchase costs separately. A mortgage covering the price does not mean every fee or work item is funded. April explains remaining costs.
Does a deposit contribution make the house cheaper?
In this calculator it reduces your borrowing only when it forms an accepted deposit. Compare the agreed price against alternatives and do not count the same incentive twice as both a discount and a contribution.
Is renting always wasted money?
The comparison separates rent and mortgage interest from principal repayment. Renting preserves flexibility and avoids the modelled owner upkeep; buying creates equity while adding debt and price risk. The result depends on entered costs and the common horizon.
