A 100% mortgage is where the loan amount is equal to the purchase price, therefore no deposit is required.

If you do not have any deposit, there are some lenders who will provide finance for 100% of the property price. This type of mortgage is increasingly popular, particularly with young, first time buyers who are looking to get on to the housing ladder but haven't been able to save much money for a deposit.

However there are some negatives which need to be considered.  Having no deposit means that your home will have no immediate equity or value to you.  In addition 100% mortgages are likely to attract higher interest rates than other types and the mortgage fee charged is normally higher. 

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The smart way to arrange your mortgage is to get an expert to do all the shopping around for you. 

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