What happens if I don’t have a deposit?

There are lenders who will advance 100% of the share that you are buying if your purchase is Shared Ownership and if it is on the open market it is possible to purchase without a deposit if your finances will allow you to borrow the total amount needed to buy the property.

If you do have a deposit, (at least 5% of the value) it will give you more lenders to choose from and your monthly payments for the mortgage should be less as you will not be borrowing as much money and a better interest rate may be available