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A no deposit mortgage, also called a 100% or zero deposit mortgage, allows you to buy a home without saving for a down payment. The bank lends you 100% of the property’s value instead of the usual 80%–90%, so you don’t need to save up tens of thousands of dollars first. For instance, on a $300,000 home, you could buy it with $0 down instead of saving $45,000 (15%) or $60,000 (20%). Since the 2008 financial crisis, these were rare unless a homeowner acted as your guarantor, but they’re becoming more available again in 2025 and 2026. The trade-off is that you’ll pay more interest over time because you’re borrowing the full amount.
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