MORTGAGES
Mortgages without a depositYes, it’s possible… this is how we can help.
In The Know
How We Recently Helped a First-Time Buyer Buy a Home With No Deposit
Recently, Tina Cranfield Financial Services helped a first-time buyer who thought owning a home was still years away. They had no deposit saved, felt stuck renting, and assumed buying just wasn’t possible yet.
If you’re renting, paying your bills on time, and wondering “how does anyone my age actually buy a house?”… read on — this could be for you.
Aimed at first-time buyers, 100% mortgage uses your proof of rent payments to work out your mortgage affordability.
The client we helped recently had:
- No deposit
- A steady income
- A solid rental history
- The belief that buying was still years away
After reviewing their situation, we recommended a mortgage designed to help people in their situation, helped organise their rent evidence, and obtained an Agreement in Principle through to the application.
The result?
- They bought their first home
- Without needing a deposit
- And finally stopped paying rent to someone else
They were genuinely overjoyed — and it’s exactly why we love helping first-time buyers.
So…. How can I get a mortgage with no deposit..
In simple terms, renters who can prove they’re good at paying rent, even if they haven’t managed to save a deposit.
Instead of asking:
“How much deposit do you have?”
The lender asks:
“Have you been paying your rent on time, every month?”
If the answer is yes, and you meet the criteria, you may be able to:
- Buy your first home
- With little or even no deposit
- By using your rent history instead
Think of it as your rent payments finally working for you.
How Does It Actually Work?
To qualify, you will usually need to show:
- That you have paid all of your rent payments on time for 12 months in a row in full, within the last 18 months
- Bank statements or confirmation from a letting agent
The lender then looks at:
- Your income
- Your regular spending
- Your credit history (nothing perfect — just sensible)
If everything stacks up, they may offer a mortgage for up to 100% of the property price, meaning no deposit is needed.
Who Is This Mortgage For?
This type of mortgage is aimed at first-time buyers, especially people who:
- Are aged 21 or over
- Haven’t owned a home in the last few years
- Have been renting and paying rent on time
- Don’t have a big deposit saved
- Are fed up paying someone else’s mortgage through rent
You don’t need to be a financial expert — you just need to be managing your money responsibly.
Why This Is Such a Big Deal for First-Time Buyers
🏡 You Don’t Need a Huge Deposit
Saving a deposit while paying rent is tough — especially with rising living costs. This removes one of the biggest barriers to buying.
💷 Your Rent Finally Counts
If you’ve been paying rent every month anyway, this recognises that you can already afford similar payments.
📅 Fixed Monthly Payments
The mortgage is usually fixed for a number of years, so you know exactly what you’ll pay each month.
🚫 No Application or Completion Fees
There are no product or completion fees with this type of mortgage. However, there may be a broker fee for your application.
How Tina Cranfield Financial Services Helps You
Mortgages can feel confusing, especially if it’s your first time. That’s where Tina Cranfield Financial Services comes in.
We can help you by:
- Explaining everything in plain English
- Checking if this mortgage is right for you
- Helping you gather the right paperwork
- Handling the application from start to finish
- Being there to answer every question (no matter how small)
You’re not expected to know how mortgages work — that’s our job.
Could This Work for You?
If you’re renting, paying your bills on time, and dreaming of your own place, you might be closer than you think.
Buying your first home doesn’t have to be scary — and it definitely doesn’t have to be done alone. 🏡✨
Please call 01526 352076 for a friendly, no-pressure chat.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Find Us
Suite 1 Matthew Temple House,
The Broadway, Woodhall Spa, Lincolnshire LN10 6ST