April No Deposit mortgage: Saving for a deposit can be one of the biggest barriers to buying a home. The April No Deposit Mortgage is designed for eligible buyers who may have stable income and a strong credit profile but have not been able to save a traditional deposit.

This product is also known as a 100% loan-to-value mortgage. That means the mortgage may cover the full value of the property, subject to eligibility, affordability and underwriting. For the right customer, it could make homeownership possible sooner. However, borrowing the full property value also carries risks, so advice is essential.

The April No Deposit Mortgage is available through qualified mortgage advisers only. You cannot apply directly to April without advice. A mortgage adviser will review your income, outgoings, credit profile, property plans and long-term affordability before helping you understand whether this product may be suitable.

Speak to an Adviser About April Mortgages

April No Deposit Mortgage: Quick Facts

What Is the April No Deposit Mortgage?

The April No Deposit Mortgage is a mortgage product for eligible buyers who want to purchase a home without putting down a deposit. Instead of borrowing 90% or 95% of the property value, eligible applicants may be able to borrow up to 100%.

This can be helpful for buyers who can afford mortgage repayments but are struggling to save a deposit while paying rent, household bills and other living costs.

However, a no-deposit mortgage is not suitable for everyone. If property prices fall, you could owe more than the property is worth. This is called negative equity. It can make it harder to sell, move home or remortgage later.

This is why the product must be considered carefully. The right adviser will explain the benefits, risks, affordability checks and long-term implications before you decide whether to proceed.

For a wider product overview, read April 100% Mortgage.

How the April No Deposit Mortgage Works

The April No Deposit Mortgage is built around long-term certainty and a different approach to homeownership.

Instead of requiring a saved deposit, the product allows eligible buyers to apply for a mortgage of up to 100% of the property value. The mortgage is available with long-term fixed rate options, which can help borrowers understand their monthly repayments over a longer period.

April also states that the rate can reduce automatically as the loan-to-value improves. This means that as you repay the mortgage and build equity, your rate may reduce in line with the product structure.

The product also includes flexibility around overpayments. Borrowers may be able to make unlimited overpayments, which can help reduce the outstanding mortgage balance faster if their financial circumstances allow.

The most important point is that the mortgage must remain affordable. A 0% deposit does not remove the need for responsible borrowing. Applicants still need to pass affordability checks, credit assessment and full underwriting.

Learn more, read our 100% mortgage guide 

Who May Be Eligible for the April No Deposit Mortgage?

The April No Deposit Mortgage is not a general product for every buyer. It is aimed at applicants who meet specific criteria and can demonstrate affordability.

You may be eligible if you are:

• A UK resident
• Aged 75 or under
• Not older than 80 at the end of the mortgage if applying with someone else
• Applying with a household income of at least £24,000
• Looking to buy or remortgage a main residence
• Buying a house valued at more than £75,000
• Able to show a good credit history
• Able to pass affordability and underwriting checks

The property must meet the lender’s criteria. April states that flats and new build properties are not accepted for this product.

A mortgage adviser can help you check whether your circumstances match the product before a full application is considered.

For more detail on customer fit, read Who’s an April Mortgage Customer?.

Who Might the Product Suit?

The April No Deposit Mortgage may suit some buyers who are financially stable but deposit limited.

This could include:

• First-time buyers with steady income
• Renters who can afford monthly payments but struggle to save a deposit
• Applicants with a clean or strong credit profile
• Buyers looking for long-term fixed rate certainty
• People buying a suitable house as their main residence
• Customers who want adviser-led guidance before applying

It may not be suitable for customers who need a flat, a new build property or a more flexible short-term mortgage plan. It may also be unsuitable for buyers who expect to move again quickly or who are uncomfortable with the risk of negative equity.

Why Mortgage Advice Is Required

April mortgages are available through mortgage advisers only. This matters because a no-deposit mortgage involves more than asking whether the monthly payment looks affordable today.

A qualified mortgage adviser will review:

• Your income
• Your regular spending
• Your credit profile
• Your deposit position
• Your property plans
• Your expected length of ownership
• Your ability to cope with future changes
• Your understanding of negative equity risk
• Whether another mortgage product may be more suitable

The adviser’s role is to help you understand the full picture. A no-deposit mortgage may help some buyers move sooner, but it should still be assessed against your long-term financial position.

Benefits of the April No Deposit Mortgage

The main benefit is that eligible buyers may be able to purchase a home without saving a deposit. For some renters, this could reduce the time needed to move from renting to homeownership.

Other possible benefits include:

• Up to 100% LTV borrowing
• 10 or 15 year fixed rate options
• Longer-term payment certainty
• Potential rate reductions as LTV improves
• Unlimited overpayments
• Access through qualified mortgage advice
• A product designed for buyers with stable income and good credit

These features may make the product attractive to buyers who want certainty and a structured route into homeownership.

For more information on how April’s rate structure may work as LTV improves, read April Mortgage Rates Reduce as LTV Improves.

Risks and Things to Consider

A no-deposit mortgage can be useful, but it also carries important risks.

The biggest risk is negative equity. This can happen if property prices fall and the mortgage balance becomes higher than the value of the property. If that happens, selling, moving or remortgaging could become more difficult.

You should also consider other homebuying costs. A 0% deposit mortgage does not mean buying a home is cost free. You may still need money for legal fees, valuation costs, moving costs, insurance and any Stamp Duty Land Tax that may apply.

You should also understand the fixed rate period. Long-term fixed rates can provide certainty, but they may not suit everyone. If your circumstances change, you need to understand how the product works if you move, repay, overpay or remortgage.

A mortgage adviser can explain these points before you apply.

April No Deposit Mortgage Criteria

The product criteria should be checked before making a decision. Based on April’s own published information, the core criteria include:

0% deposit

• Up to 100% loan-to-value
• 10 or 15 year fixed rate options
• Minimum household income of £24,000
• UK resident applicants
• Good credit history
• Main residence only
• House valued above £75,000
• Flats not accepted
• New build properties not accepted
• Available through mortgage advisers only
• Full affordability and underwriting review required

These criteria may change, so applicants should always speak with an adviser before relying on product details.

Is a 100% Mortgage the Same as a No Deposit Mortgage?

Yes, in this context, a 100% mortgage means the same broad thing as a no-deposit mortgage. The mortgage may cover the full property value, so the buyer does not need to put down a deposit.

However, it is important to remember that 100% LTV does not mean guaranteed approval. The lender still needs to assess affordability, credit history, property type, income and overall suitability.

It also does not remove all buying costs. Buyers may still need funds for legal work, moving costs and other purchase-related expenses.

Customer Journey: What Happens Next?

If you are interested in the April No Deposit Mortgage, the next step is to speak with a qualified mortgage adviser.

The journey usually includes:

• Initial conversation about your goals
• Review of income and outgoings
• Credit and affordability assessment
• Property type and value check
• Discussion of product risks and alternatives
• Decision in Principle where appropriate
• Full application if the product is suitable
• Underwriting and valuation
• Mortgage offer if approved
• Completion and move-in

This adviser-led process is designed to make sure the product is suitable, affordable and understood before the application goes ahead.

Find Out Whether an April No Deposit Mortgage Could Work for You

A no-deposit mortgage can be a useful option for the right buyer, but it needs careful advice. The April No Deposit Mortgage may help eligible customers buy with 0% deposit, but affordability, credit history, property type and long-term plans all matter.

Speak to a qualified mortgage adviser to understand the criteria, compare your options and decide whether this product is suitable for your circumstances.

Speak to an Adviser About April Mortgages

FAQ: April No Deposit Mortgage