Can You Get a Mortgage Without a Deposit in 2026? The “Track Record” Approach Explained

TLDR

Some lenders in the UK now allow first-time buyers to get a mortgage with little or no deposit by assessing their rental payment history instead. If you’ve consistently paid rent and bills, you may already demonstrate the affordability lenders are looking for.

The Problem Most Renters Face

Many renters are in a frustrating position.
They’re:

• Paying £1,000+ per month in rent
• Managing bills consistently
• Showing financial discipline

But still struggling to save a deposit.
That’s where a new approach to lending has started to emerge.

What Is a “Track Record” Mortgage?

Instead of focusing purely on your savings, some lenders now assess:

• Your history of paying rent and household bills

If you can show:

• 12 months of consistent rent payments
• No missed payments on credit commitments
• Stable financial behaviour

You may be able to access a mortgage with very low or no deposit.

How It Works (Simple Breakdown)

The key idea: If you can afford rent, you may be able to afford a mortgage.

Key Difference vs Traditional Mortgages

How Much Can You Borrow?

• Max 4.49 times of your income
• Mortgages which have monthly payments up to 120% of the monthly rental payment (calculated as a mean average over the last 6 months).

(Figures depend on income, term, and affordability checks)

Who This Works Best For

This approach is particularly useful for:

• First-time buyers (If you haven’t owned a property in the last 3 years in the UK) stuck renting
• Professionals with stable income but low savings
• Individuals paying high rent consistently
• Buyers without family support for deposits

Important Conditions to Be Aware Of

• This isn’t a “no checks” mortgage.

Lenders will still assess:

• Credit history
• Income and outgoings
• Stability of employment
• Affordability under stress testing
• Nationality- Should be British or have permanent rights to reside in the UK

The Risks (Important to Understand)

Real Insight (What We’re Seeing)

We’re starting to see more lenders explore this type of criteria.
The shift is simple:

• From “What have you saved?”
• To “What have you consistently managed?”

Final Thought

If you’ve been paying rent consistently for years, you may already be demonstrating the exact behaviour lenders want to see.
If you’re currently renting and unsure whether you’d qualify under this type of approach, feel free to reach out. Happy to talk it through.

FAQs

Can I really get a mortgage without a deposit in the UK?

In some cases, yes. If you can show a strong track record of paying rent and managing finances, certain lenders may consider low or no deposit options.

How much rent history do I need?

Typically, at least 12 months of consistent rent payments within the last 18 months is required.

Do I still need good credit?

Yes. Lenders will still check your credit history and expect no recent missed payments.

Is this available for everyone?

No. It is usually aimed at first-time buyers with stable income and a strong payment history.

Is a no deposit mortgage riskier?

Yes.
Borrowing close to 100% of a property’s value can increase the risk if property prices fall.

FCA Disclaimer

Your home may be repossessed if you do not keep up repayments on your mortgage. This article is for general information only and does not constitute personalised financial advice.