Sick of renting but can’t save enough of a deposit? Tired of property prices going up faster than you can save? Then a new type of home loan provided by some lenders may be the answer - a no deposit loan.

Whilst many people nowadays can afford the monthly repayments required for a home loan, they can’t save the minimum deposit needed because house prices keep rising faster than they can save.

In response to this situation Go MC is now offering the No Deposit or 100% loan to help combat the problem

It is designed to help borrowers get into the market sooner than usual by providing up to 100% of the property purchase price. Combined with some of the government's first home buyer concessions, this means in some circumstances borrowers can buy their first home without having to save for a deposit in advance.

The No Deposit Loan is perfectly suited for 2 types of home buyers:

• Firstly, those with enough savings to cover their costs, but who have no deposit.

• Secondly, those who have both a deposit and their costs saved, but who find it’s still not enough for the home price they want to buy. It’s useful in this case because it can allow you to buy a higher priced home despite having a small deposit.

Things you can do next

If you require more information, please fill in the form and one of our friendly team will contact you as soon as possible.