April 100% Mortgage: A no-deposit mortgage option for eligible buyers with strong credit, stable income, and advice from a qualified mortgage adviser. Saving for a deposit can be one of the biggest barriers to buying a home. April Mortgages’ No Deposit mortgage is designed to help eligible buyers purchase a home without needing to put down a deposit.
This type of mortgage is also known as a 100% loan-to-value (LTV) mortgage. That means the mortgage covers the full value of the property. While this may help some buyers move sooner, it also carries important risks, including the risk of negative equity if property prices fall.
April’s No Deposit mortgage is only available through qualified mortgage advisers. That means you cannot apply directly. A mortgage adviser will review your income, outgoings, credit profile, affordability and property plans before helping you decide whether this type of mortgage is suitable.
If you are considering a no-deposit mortgage, the first step is to speak with a qualified adviser who can explain the criteria, compare your options, and help you understand the risks before you apply.
April 100% Mortgage: Quick Facts
| Feature | April No Deposit mortgage |
|---|---|
| Deposit required | 0% deposit |
| Loan-to-value | Up to 100% LTV |
| Fixed rate options | 10 or 15 year fixed rates |
| Income requirement | Minimum household income of £24,000 |
| Credit profile | Good credit history required |
| Property type | Main residence house valued above £75,000 |
| Property exclusions | Flats and new build properties are not accepted |
| Access | Available through mortgage advisers only |
| Advice | Mortgage advice is required |
| Key risk | Negative equity if property prices fall |
What is an April 100% Mortgage?
An April 100% mortgage is a no-deposit mortgage from April Mortgages. It allows eligible buyers to borrow up to the property’s full value without putting down a deposit.
This can be useful for buyers who have enough income to afford monthly repayments but have found it difficult to save a deposit. It may be especially relevant for people paying rent, managing rising living costs or trying to buy sooner rather than waiting several more years to save.
However, a 100% mortgage is not suitable for everyone. Borrowing the full value of a home means there is less financial buffer if property prices fall. If the home’s value drops below the mortgage balance, the borrower could be in negative equity. This can make it harder to sell, move or remortgage later.
Because of this, April uses responsible lending checks and requires applicants to receive advice from a qualified mortgage adviser before applying.
For help understanding whether this type of mortgage may be suitable, visit First-Time Buyer Mortgage Brokers.
How April’s No Deposit Mortgage Works
April’s No Deposit mortgage is designed to provide long-term payment certainty and flexibility. The mortgage is available with fixed rate options of 10 or 15 years, which means monthly payments are designed to remain predictable over a longer period.
April also states that the rate can automatically reduce as the borrower pays off more of the mortgage. This means the product is designed to reward progress as the loan-to-value reduces over time.
Another feature is flexibility around overpayments. April says borrowers can make unlimited overpayments whenever they like. This may help some homeowners reduce their balance faster if their financial circumstances allow.
April also says there are no early repayment charges when moving home or repaying with the borrower’s own funds. However, borrowers should understand that early repayment charges may apply if they remortgage to another lender during the fixed-rate period.
This is why advice is important. A qualified adviser can explain how the fixed rate, overpayment rules, portability, early repayment charges and long-term affordability may affect your plans.
Who May Be Eligible?
April’s No Deposit mortgage has specific eligibility requirements. To be considered, applicants generally need to meet the following basic criteria:
- Be a UK resident
- Have a minimum household income of £24,000
- Have a good credit history
- Be aged 75 or under
- Apply for a house that will be used as the main residence
- Choose a property valued above £75,000
- Avoid flats and new build properties, as these are not accepted
- Pass a full underwriting and affordability review
April states that a credit search is used at Decision in Principle stage. This means your credit profile will be assessed before a full application can move forward.
Meeting the basic criteria does not guarantee approval. The application will still be subject to full underwriting, affordability checks and the lender’s assessment of the property and borrower’s circumstances.
If you are unsure whether your income, credit history, or property type meets the criteria, speak with a qualified adviser through Connect Mortgages.
Why Mortgage Advice Is Required
April’s products are available through mortgage advisers only. This is because a 100% mortgage needs careful assessment. The adviser’s role is to help you understand whether the product is suitable, affordable and appropriate for your circumstances.
A mortgage adviser can:
- Review your income and outgoings
- Check your credit profile
- Explain the features and risks
- Assess whether the mortgage is suitable
- Compare alternatives
- Guide you through the application process
- Help avoid avoidable application issues
- Explain any advice fees before you proceed
This is especially important with a no-deposit mortgage because the borrower is taking on the full property value as mortgage debt. The right advice can help reduce the risk of choosing a product that does not match your future plans.
For borrowers seeking a broader overview of residential mortgage support, visit Residential Mortgage Brokers.
What Are the Benefits of a 100% Mortgage in April?
The main benefit is that eligible buyers may be able to buy without waiting to save a deposit. For some people, this could mean moving from renting to home ownership sooner.
Potential benefits include:
- No deposit required
- Long-term fixed rate certainty
- Predictable payments for 10 or 15 years
- Automatic rate reductions as more of the mortgage is repaid
- Unlimited overpayments
- Access through qualified mortgage advisers
- A possible route for buyers with income but limited savings
This may appeal to buyers who have stable income, strong credit and a clear plan for long-term home ownership.
However, the benefits should always be weighed against the risks. A no-deposit mortgage should not be chosen only because it removes the need for a deposit. It should be chosen because it is affordable, suitable and aligned with the borrower’s wider financial position.
What Are the Risks?
The biggest risk with a 100% mortgage is negative equity. This happens when the outstanding mortgage balance becomes higher than the property’s market value.
For example, if you buy a property for the full value with no deposit and property prices fall, you may owe more than the home is worth. This could make it harder to sell, move or remortgage.
Other costs also need to be considered. A no-deposit mortgage removes the need for a deposit, but it does not remove the other costs of buying a home. These may include:
- Stamp Duty Land Tax, where applicable
- Valuation fees
- Legal fees
- Moving costs
- Broker or adviser fees, where charged
- Survey costs
- Insurance costs
- Ongoing maintenance costs
Your home may be repossessed if you do not keep up repayments on your mortgage. Because of these risks, applicants should speak with an adviser before deciding whether a 100% mortgage is suitable.
Is a 100% Mortgage in April Right for You?
An April 100% mortgage may be worth exploring if you have stable income, a good credit history and can afford the repayments, but do not have enough saved for a deposit.
It may not be suitable if your income is uncertain, your credit history is poor, you expect to move soon, or you would struggle if monthly payments increased in the future. It may also not be suitable if you are buying a flat, a new-build property, or a property that does not meet April’s criteria.
The right decision depends on your full circumstances. A qualified mortgage adviser can help you compare April’s No Deposit mortgage with other mortgage options, including lower loan-to-value mortgages, family-assisted options, shared ownership, standard first-time buyer mortgages and other lender products.
If your credit history is a concern, you can also visit Adverse Credit Mortgage Brokers.
April 100% Mortgage Criteria Checklist
Before speaking with an adviser, it may help to check the main points below.
You may be closer to fitting the criteria if:
- You are a UK resident
- Your household income is at least £24,000
- You have a good credit history
- You are aged 75 or under
- You are buying a house as your main residence
- The property is valued above £75,000
- The property is not a flat
- The property is not a new build
- You can afford the monthly repayments now and in the future
- You understand the risk of negative equity
- You are willing to receive regulated mortgage advice
This checklist is only a guide. It does not replace advice or lender underwriting.
Why Use a Mortgage Adviser?
April Mortgages are only available through regulated mortgage advisers. This means you cannot apply directly to April as a customer. You will need to speak with a qualified mortgage adviser who can review your circumstances and explain whether April’s mortgage options may be suitable.
A mortgage adviser does more than submit an application. They look at your income, outgoings, credit history, deposit position, property choice and future plans before making a recommendation. This is especially important with a 100% mortgage, as borrowing the full value of a property can help the right borrower but may carry added risks if circumstances change or property values fall.
Your adviser can also explain how April’s long-term mortgage options work, including fixed-rate periods, affordability checks, overpayments, early repayment considerations, and what happens at each stage of the application. They can help you understand the difference between a Decision in Principle, a full mortgage application, underwriting, a property valuation, and a final mortgage offer.
If you are a customer considering a no-deposit or long-term fixed mortgage, speaking to a regulated adviser can help you make a more informed decision before you apply.
If you are a broker with a client who may benefit from April’s long-term mortgage options, but your firm is not on April’s mortgage panel, Connect can help. You can learn more about access, support and referral options through April Mortgages via Connect.
Speak with a Mortgage Adviser About April 100% Mortgages
A no-deposit mortgage can make home ownership feel more achievable, but it must be considered carefully. Borrowing 100% of a property’s value increases the importance of affordability, credit history, property choice and long-term planning.
A qualified mortgage adviser can help you understand April’s criteria, explain the risks, compare your options and guide you through the application process.
FAQ: April 100% Mortgages
| Question | Answer |
|---|---|
| What is an April 100% mortgage? | An April 100% mortgage is a no deposit mortgage from April Mortgages. It allows eligible borrowers to apply for a mortgage up to 100% of the property value. |
| Do I need a deposit? | No deposit is required for April’s No Deposit mortgage, but you may still need money for other home-buying costs such as legal fees, valuation costs, moving costs and Stamp Duty Land Tax where applicable. |
| Is this the same as a 100% LTV mortgage? | Yes. A 100% LTV mortgage means the mortgage covers the full value of the property. |
| Who can apply? | April states that applicants need to be UK residents, have a minimum household income of £24,000, have a good credit history and meet the lender’s affordability and underwriting requirements. |
| Does April accept flats? | No. April states that flats are not accepted for the No Deposit mortgage. |
| Does April accept new build properties? | No. April states that new build properties are not accepted for the No Deposit mortgage. |
| Do I need a mortgage adviser? | Yes. April says its mortgage products are available through mortgage advisers only and that advice is required. |
| What is the main risk of a 100% mortgage? | The main risk is negative equity. This can happen if property prices fall and your mortgage balance becomes higher than the value of your home. |
| Can I make overpayments? | April states that unlimited overpayments are allowed. You should still ask your adviser to explain the product terms before proceeding. |
| Will I pay early repayment charges? | April states there are no early repayment charges when moving home or repaying with your own funds. However, it also states that early repayment charges may apply if you remortgage away to another lender during the fixed rate period. Ask your adviser to explain how this may apply to your circumstances. |