100% LTV Mortgage
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100% LTV Mortgage
Charlie Connolly explains the requirements of a 100% Loan to Value mortgage.
Can I get a 100% Loan to Value (LTV) mortgage? How does it work?
Getting a 100% mortgage is possible in certain situations, but it does come down to strict criteria. It presents a higher risk for both the borrower and the lender.
How much can I borrow at 100% Loan to Value?
You can typically borrow up to 4.5 times your income, subject to full underwriting checks. Your mortgage broker will gather your personal information, run through your income and expenditure, then put that into the lender’s affordability calculator to see what you can borrow.
Who is eligible for a 100% Loan to Value mortgage?
You need to be at least 21 years old to qualify. Many 100% Loan to Value mortgages are specifically for first-time buyers, but some lenders may consider movers if you haven’t owned a property for the last three years.
You must also meet the specific income and affordability criteria for the lender, which depend on your salary and outgoings. It’s also important to have a good credit score and a clean credit history.
Will I need a guarantor for a 100% Loan to Value mortgage?
The current 100% LTV scheme that’s available doesn’t require a guarantor [information correct at the time of recording in October 2025].
Can I get a 100% LTV mortgage with bad credit such as a default or CCJs?
It can be difficult to obtain a mortgage with a 10% deposit when you have bad credit, including defaults and CCJs. So if you have no deposit, this will make things more challenging.
The current scheme does recommend you have no credit issues within the last six months. However, it will still be down to credit score with that specific lender [information correct at the time of recording in October 2025].
Can I get a 100% LTV mortgage if I’m a first-time buyer?
Yes, if you’re a first-time buyer, you would be eligible for the current 100% mortgage available on the market.
How does a 100% LTV mortgage compare to a standard mortgage?
There aren’t too many differences between a 100% LTV mortgage and a standard mortgage. It’s just that with a 100% LTV mortgage, you’re borrowing the entire value of the home – so you don’t put in a deposit.
Standard mortgages typically require a 5% deposit. Having no deposit means you may be on a higher rate to start with.
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What are the pros and cons of a 100% mortgage?
There are a couple of drawbacks to a 100% LTV mortgage. Firstly, there’s a risk of negative equity. If the property value drops, it could be worth less than you owe on the mortgage. This risk would be lower if you were to put in a deposit.
If you put in a 10% deposit on a property costing £200,000, it would have to drop below £180,000 for you to fall into negative equity. Whereas if you purchase for £200,000 with no deposit, if it just drops by £5,000, negative equity applies.
The other main drawback is that you’re going to be on a higher interest rate, so your monthly payments are going to be more expensive. There are also a lot of eligibility criteria to hit.
However, the big advantage is it allows you to purchase a property without needing a deposit – giving you the opportunity to get on the property ladder sooner.
When can I apply for a 100% LTV mortgage?
You can apply for one of these mortgages as long as you meet the eligibility criteria. A mortgage advisor can add value here, because we go through those criteria carefully to see if it’s the right mortgage for you.
How can a mortgage broker help here? Have you got any final thoughts?
With 100% LTV mortgages, we can really help by offering our guidance and outlining the benefits and the risks of this type of mortgage. We just need to make sure it’s the right type of mortgage for you.
Key Takeaways:
- Getting a 100% Loan to Value (LTV) mortgage is possible but has strict criteria and presents a higher risk.
- You can typically borrow up to 4.5 times your income, subject to full underwriting checks.
- Eligibility requires you to be at least 21 years old, often a first-time buyer, and have a good credit score.
- The current 100% LTV scheme does not require a guarantor.
- While it allows you to purchase a property without a deposit, drawbacks include a higher risk of negative equity and higher interest rates.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.