April Mortgages no-deposit mortgage review – how it works and who can qualify

April Mortgages offers a no-deposit mortgage deal, providing an option for homebuyers who struggle to save a deposit for buying a home. With the cost of living continuing to rise, many aspiring homebuyers struggle to save, creating an appetite for mortgage solutions that overcome this hurdle. In this article we explain how April Mortgages’ No-Deposit mortgage works, who can take advantage of the deal and how it compares to other options in the market.

The deal is only available through mortgage intermediaries and we explain how to get the right expert mortgage help* to choose the right mortgage solution based on your needs and circumstances.

About April Mortgages

April Mortgages launched in the UK in 2023 and is part of the DMFCO Group, the largest independent asset manager of Dutch residential mortgages. It has been offering mortgages in the Netherlands since 2014 under the name, MUNT. The mortgage solutions offered by April Mortgages are provided with long-term fixed interest rates - a less common type of mortgage arrangement compared with the more popular short-term fixed mortgage deals we see homebuyers choose in the UK.

How does April Mortgages’ No-deposit Mortgage work?

No-deposit mortgages, otherwise known as 100% loan-to-value (LTV) mortgages, are loans that cover the full cost of purchasing a property. This means that the buyer does not need to pay a deposit towards the purchase price. While similar mortgage deals have generally only been available to first-time buyers, April Mortgages offers its no-deposit mortgage to both first-time buyers and home movers, opening it up to first time buyers and those who may wish to move home but do not have the equity or savings to buy their next home.

April Mortgages’ no-deposit mortgage comes with a 10 or 15-year fixed interest rate and is only available through mortgage brokers registered with the lender. April Mortgages believes that a long-term arrangement will limit the negative equity risk that borrowers can face when choosing a 100% LTV mortgage. Negative equity occurs when the value of your property falls below the mortgage loan balance. You will find more information in our articles, "What is negative equity?" and "Can you get a 100% mortgage? - what you need to know".

Key features of April Mortgages’ No-deposit mortgage

Here are the key facts of April Mortgages' no-deposit Mortgage:

Mortgage feature	How it works
Type of mortgage	Repayment (Capital & Interest), Interest-only & Part-and-part
Term of mortgage	5 to 40 years
Mortgage deal period	10 or 15-year fixed-rate deal
Minimum mortgage loan value	£50,000
Maximum mortgage loan value	£600,000
Early repayment charges	Early repayment charges are applicable if you switch to another mortgage Early repayment charges are not applied if you remortgage to move home, make overpayments or if you repay the mortgage from your own funds
Interest rate	5.99% for 10-year fixed rate 6.43% for 15-year fixed rate
Standard variable rate	7.50%
Maximum loan-to-income ratio	4.49 times income
Fees	Application fee - £195 Valuation fee - free of charge for properties valued up to £1m Completion fee - £995

Who can get the April Mortgages' No-deposit mortgage?

In order to be successful in securing the no-deposit mortgage with April Mortgages, you will need to meet the qualifying criteria which we have listed below.

• The mortgage must be used to purchase a residential property
• The property must not be a flat or any new build property
• You must have an annual household income of at least £24,000
• Your credit history must reflect good financial management, with minor infractions allowed if settled in the last 36 months

Eligibility criteria for April Mortgages’ No-deposit mortgage

Qualifying criteria	The details
Type of homebuyer	First-time buyers and home movers
Property type	All residential properties except flats or new build properties
Minimum household income	£24,000
Max age at outset	70 years old
Max age at expiry	80 years old

Who cannot get the April Mortgages' No-deposit mortgage?

You may find that the No-deposit mortgage from April Mortgages is not available to or suitable for you if:

• You do not live in England or Wales
• You wish to let the property you are buying, now or in the future
• Your credit score is poor
• The property you want to buy is a flat or a new build property
• You are more than two people applying for the mortgage
• You want to consolidate your debts using a mortgage loan

How does April Mortgages’ No-deposit mortgage compare?

Although low and no-deposit mortgage deals are uncommon in the mortgage market, some options are available to homebuyers with little to no deposit. Some of the alternative mortgage solutions are only available with the financial help of family or friends who would provide guarantees through capital or income support. Here we compare these with April Mortgages’ no-deposit deal.

April Mortgages' No-deposit mortgage vs other 100% mortgage deals

Lender	April Mortgages	Skipton Building Society	Barclays	Vernon Building Society
Mortgage name	No-deposit Mortgage	Track Record Mortgage	Family Springboard Mortgage	Head Start Mortgage
Maximum loan-to-value	100%	100%	100%	100%
Mortgage interest rate	6.18% or 6.39%	5.33%	5.29%	4.90%
Interest rate type	10-year or 15-year fixed rate	5-year fixed rate	5-year fixed rate	5-year discounted variable rate
Guarantor required	No	No	Yes	Yes

All rates correct as of 01st December 2025

Is April Mortgages’ no-deposit mortgage worth it?

A no-deposit mortgage can be an excellent option for those who aspire to get on the property ladder and become homeowners but who simply cannot save enough money to afford the deposit that is needed. It may protect you against rising rental costs and give you certainty and control over your housing situation. April Mortgages’ 100% LTV deal could also help those who wish to move home but do not have enough equity in their current home or savings to meet the minimum deposit required to do so.

However, tying into a relatively high interest rate for 10 or 15 years is a long-term commitment and may leave some borrowers disappointed when and if mortgage interest rates fall. This is somewhat mitigated by the fact that April Mortgages will reduce the interest rate as you reduce the mortgage loan to achieve a lower LTV, however, the rates at lower LTVs quoted by April Mortgages are also relatively high when compared to the best in the market. For example, April Mortgages' 95% LTV interest rate is currently 5.70% on a 5-year term but the best rate available at this level of loan-to-value is currently 4.19% which could mean you pay £240 more on your monthly mortgage payment with April Mortgages based on a £250,000 mortgage over 35 years. You can search the best mortgage rates for mortgages with at least 5% deposit or more using our mortgage rate comparison tool.

A mortgage that requires no deposit can be an attractive proposition but there are multiple factors that you should weigh up before pursuing this option. We have listed some of the pros and cons of a no-deposit mortgage below, so you can weigh up whether this type of mortgage is worth exploring.

Pros

• You can own a home faster than if you were to wait to save a deposit
• Your monthly mortgage payments will not increase for 10 or 15 years
• Your monthly mortgage payments could reduce automatically if you reduce the mortgage balance and achieve a lower LTV
• You can make unlimited overpayments without any penalties
• No early repayment charges apply if you remortgage to move home
• Unlike other similar mortgage deals, you do not have to be a first-time buyer or renter to qualify

Cons

• The interest rate you will pay is relatively high compared to rates available through other similar products or if you were to save a 5% deposit towards the cost of your property
• Your monthly mortgage will not reduce during the fixed rate term of 10 or 15 years, even if interest rates fall (unless you achieve a lower LTV band)
• You will incur early repayment charges if you remortgage to a new mortgage deal within the fixed-rate deal period
• You are at an increased risk of falling into negative equity

Finding the right mortgage solution for your needs

Although a no-deposit mortgage will appeal to those struggling to save a deposit, the possible downsides need to be weighed up. Paying a higher interest rate may be acceptable to you if there is no alternative route to owning your home, especially if you are paying rent that is higher than the resulting mortgage payments will be. For some people, the mere security against rising rental costs will be enough to convince them that this option is worthwhile. However, other options do exist; some at a lower cost, so you should consider speaking with a mortgage specialist*. Mortgage specialists or brokers have a wide understanding of various lenders' mortgage deals. They will be able to assess your personal circumstances against the qualifying criteria to check which deal offers you the best value, flexibility and chance of success.

If you do not have a mortgage adviser, you can source one in your local area using the online professional directory Vouchedfor*. It allows you to choose a broker based on their specialisms, customers' reviews or by the services they provide. On the other hand, you could contact the online mortgage broker, Habito*. It does not charge a fee for its services and it offers mortgage advice, guidance and support in making a mortgage application online and over the phone, making it convenient for customers in any location. Habito has access to mortgages from over 90 lenders in the market and the advisers are knowledgeable about the various offers and caveats for each, making it an easier way to find the right mortgage solution for you. It will also prevent you from making applications to lenders that end up declined.

 

If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Habito, Vouchedfor