In a groundbreaking shift for the housing industry, April mortgages are making waves across the market with a new wave of products aimed at first-time buyers. The biggest headline? A 100% mortgage deal that removes the need for a deposit altogether. This offer is designed to help renters leap into homeownership faster—without relying on parental support or even a proven track record of rental payments. It’s an ambitious step forward in a housing market that’s long been criticized for being out of reach for younger generations.
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April Mortgages: Opening Doors to a New Generation
The latest product from April mortgages is not just an update—it’s a revolution. With the starting fixed rate at 5.99% and long-term options of 10 or 15 years, the deal is tailored for those who may have steady incomes but struggle to save for a hefty down payment. This solution doesn’t require collateral or rental history checks, which sets it apart from previous zero-deposit schemes.
However, while the benefits seem promising, it’s important to stay grounded. Mortgage applicants must still meet income and affordability checks. If you’re earning less than £24,000, this offer might not be available to you. Still, for many middle-income earners, this could be the key to stepping into the property market for the first time.
Key Changes in the Mortgage Landscape – April 2025 Update
The mortgage scene in April 2025 is shifting rapidly. Here are some of the most important updates buyers need to be aware of:
- Average Interest Rates: The 30-year fixed mortgage rate remains steady under 7%, giving some breathing room for potential borrowers.
- Home Prices: Growth in home prices is slowing down—down to 2.7% compared to last year. This cool-off may help buyers in competitive markets.
- New Listings: The number of homes on the market has grown by just over 9% compared to April last year.
- Affordability: Buyers in urban markets are feeling the pinch. In some cities, the income needed to buy a home has jumped by over 50% compared to rental income requirements.
Risks and Rewards of April Mortgages
Though April mortgages may offer a unique gateway to homeownership, there are risks to consider. A 100% mortgage means you’re starting with zero equity. If home prices drop, you could fall into negative equity—owing more than your home is worth. This was a major issue in the 2008 housing crisis, and it’s a scenario lenders and buyers alike want to avoid.
That said, for renters paying high monthly rents, switching to a mortgage—even at a higher interest rate—can lead to long-term gains. Monthly mortgage payments can build equity over time, unlike rent, which offers no return.
How to Make the Most of April Mortgages
If you’re considering taking advantage of this new mortgage opportunity, here are a few points to consider:
- Check your credit score – While no deposit is required, good credit is still essential.
- Assess your budget – Fixed payments over 10 or 15 years need careful planning.
- Speak to an advisor – Financial advice can help you compare traditional options.
- Think long-term – Consider future market changes, job security, and life plans.
These steps can help you determine whether this offer aligns with your financial goals and risk tolerance.
Take Action: Is April the Right Time to Buy?
With the introduction of these new April mortgages, many renters are re-evaluating their options. Could this be the year you transition from tenant to homeowner? Evaluate your readiness, get the facts, and take a confident step toward building your future. The opportunity is here—but making the right move starts with informed decisions.