Low/no deposit mortgages

Looking to buy a home with little or no deposit? Explore your options with Mortgage Light. We help first-time buyers across the UK access zero and low deposit mortgages that match their needs.

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LOW / ZERO DEPOSIT OPTIONS FOR EVERYONE

Low/zero deposit mortgage advisers for Milton Keynes and the UK from Mortgage Light

For many first-time buyers, saving a deposit is one of the biggest hurdles to buying a home. But with the growing availability of zero and low deposit mortgages, owning a home may be more achievable than you think.



Whether you're ready to buy now or just starting to explore your options, we can help you understand what's possible - even if you’ve been told before that you need a bigger deposit.

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What are zero and low deposit mortgages?

Zero and low deposit mortgages allow you to borrow most, or even all, of a property’s value — typically with just 0–5% deposit. These types of mortgages have become more accessible again in recent years, particularly for first-time buyers or those with strong affordability but limited savings.


Lenders offering these types of products take a close look at things like your income, outgoings, and credit history to assess whether you can afford the monthly payments. Some may also consider your rental payment history or overall financial behaviour. You’ll also need to be a British Citezen or have Settled Status / Indefinite Leave To Remain. You can read more about Zero Deposit Mortgages here.

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MORTGAGE LIGHT CAN HELP.

Why consider this type of mortgage?

If you’ve been paying rent reliably & managing your finances well, you may be closer to getting a mortgage than you think, even without a big savings pot.

Zero and low deposit options might suit you if:



  • You’re a first-time buyer with limited savings (or have not owned in the last 3 years)
  • You’re currently renting and want to put that money towards your own home
  • You have a strong credit record and steady income


With rental prices continuing to rise, owning a home is now often cheaper than renting - and that gap is only growing. Homeownership can also offer greater long-term financial stability and has been shown to support mental wellbeing by giving you more control over your living space and future.

Plus, by getting onto the ladder, you start building equity — which could help you access better loan-to-value (LTV) products in the future, making your mortgage options even more competitive as your circumstances evolve.

What should you consider?

Getting a mortgage with no deposit is a huge opportunity, but like any financial product, it’s important to go in with your eyes open.


Monthly repayments might be a little higher compared to a larger deposit deal, and not every lender offers this type of mortgage, so having the right support matters. You’ll also be borrowing a higher percentage of the property’s value, which means it’s especially important to choose the right product with a rate and term that suits you. You’ll also need to factor in solicitor fees and a broker fee.



The good news? These mortgages are designed to help people into homes sooner — not trip them up. With expert advice and a bit of planning, they can offer a practical and secure route onto the ladder.

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How Mortgage Light can help

At Mortgage Light, we understand that your deposit doesn’t define your potential to own a home. Our advisers are experts in finding the right options for clients with minimal savings, whether that's zero deposit, 5%, or shared ownership. We’ll help you:



  • Understand your borrowing power
  • Explore deposit-free or low deposit mortgage options
  • Compare lenders and find products suited to your circumstances
  • Make the process simple, stress-free, and clear
  • Make the most of any builder incentives to boost your deposit and expand your options


Whether you're buying your first home or returning to the market, we’ll support you from your first enquiry through to getting the keys.

💡 Working with the leading lenders in the whole of market...

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Frequently asked questions

Got a question? It might be answered here. You can also head over to our FAQ page to read more of our frequently asked questions.

  • Can I get a mortgage with no deposit?

    In some cases, yes! Certain schemes and products allow you to buy without a deposit, you’ll need to have a strong credit history, have settled status in the UK and you will not have owned a property in the last 3 years.

  • What’s the minimum deposit I need?

    You may be able to buy with as little as a 2.5 % or  5% deposit, depending on your circumstances.

  • Are low deposit mortgages more expensive?

    They can be. Monthly payments or interest rates may be slightly higher, but they make it possible to get on the property ladder sooner!

  • Am I eligible for a zero deposit mortgage on a VISA?

    You’ll need to have evidence of pre-settled/settled status under the EUSS, permanent rights of residency, or indefinite leave to remain in the UK. But, if this is a joint application and the income of a VISA holder is not being used as part of the affordability assessment, you could be eligible. 

  • What documentation is is required for proof of rental payments?

    12 months bank statements (full or concise). Or a letter from the letting agent (needs to be Association of Residential Lettings Agents (ARLA) registered, or suitable alternative, e.g. NAEA, NACA) detailing the 12 monthly rent payments.


    A concise statement, showing only the last 12 months rental payments, is preferred over 12 months of full bank statements. It is often possible to search for specific payments on your bank’s website and generate a printable statement that only shows just these transactions. Typically, it’s less likely you will be able to do this using a banking app. 

SEE WHAT OUR CLIENTS HAVE TO SAY...

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Frequently asked questions

Got a question? It might be answered here. You can also head over to our FAQ page to read more of our frequently asked questions.

  • Do green mortgages cost more?

    Not necessarily. Many lenders actually offer better rates or incentives if the property meets green criteria. We’ll compare these alongside standard deals to ensure you’re getting value.

  • Can landlords get green mortgages?

    Yes. Landlords can often benefit from green products too, especially when upgrading properties or buying newer, more efficient builds. We can advise on how these changes impact affordability and borrowing.

  • What if my property doesn't qualify yet?

    No problem, we’ll still explore the best deal for your current position, and help you map out a path to improving your home’s energy performance if that’s part of your plan.

HOMEOWNERSHIP FOR EVERYONE.

10 ways first time buyers are getting on the property ladder

As a first-time buyer, there are a number of mortgage products designed to help make homeownership more accessible - particularly if you’re struggling to build up a large deposit. 

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Low deposit mortgages

Where some lenders will accept deposits as low as 5%, depending on your credit profile and income.

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Higher income multiples 

Available to applicants with strong rental histories, a high salary, or professional qualifications, often more accessible when you have a larger deposit

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Cashback mortgages

A fixed sum back upon completion to help with initial costs - normally linked to new build homes.

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Shared ownership

Where you buy a share of a property and pay rent on the remainder – with the option to purchase more shares over time.

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Builder or developer incentives

Often offered on new-builds to reduce your upfront costs - there are often ways to work directly with the developer to tailor the deal and explore additional mortgage options.

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Joint borrower, sole proprietor mortgages

Sometimes called “income booster” - allowing a parent or family member to support your income without being named on the property

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Zero deposit (100%) mortgages

Available in specific circumstances – such as where you've been renting for a period of time and can show a consistent payment record. These are subject to stricter eligibility criteria and affordability checks.

Looking to get more information on your first mortgage?

Let’s explore your options

Our team are here to help.

Based in Milton Keynes, our friendly team supports clients across the UK. If you’re ready to take the next step or simply want to know what you could borrow, we’d love to talk. Book a free consultation today - no deposit doesn’t have to mean no chance.