Full list of areas where first-time buyers can actually get a 100% mortgage – and homes start at £27,000

FIRST-TIME buyers could get a home loan without putting down a deposit – but these are the homes you can actually buy.

Skipton Building Society has just launched the UK’s first 100% loan-to-value mortgage that’s exclusively available to renters.

House prices vary a lot depending on where you want to live

The Track Record Mortgage is available to tenants aged 21 and above and for first-time buyer purchases only.

The five-year fixed rate of 5.49% is targeted at those who have not deposit saved and need a 100% loan for the full value of the property.

The deal doesn’t require a signed guarantor, which makes it unique, as the small number of deposit-free mortgage deals from other lenders all need some help from the Bank of Mum and Dad.

But before borrowing 100% of the cost to buy your first home, remember that if house prices fall, you could end up owing more than the property is worth.

Should I get a long-term fixed-rate mortgage?

Martin Lewis warns first-time buyers over new zero deposit mortgage

Skipton’s loan is a five-year fixed rate so unless you want to sell before the end of the term, a short-term dip in house prices won’t affect you.

Here’s what can you actually buy with a 100% mortgage.

The homes you could buy

Buying with a partner or friend will boost how much you can borrow

The Sun crunched the numbers and found out how much you can borrow and what you can get for your money.

We looked at the average income, rent and house price in each region based on stats from the Office for National Statistics.

Most read in Money

Depending on where you want to buy, the maximum you can borrow with Skipton’s 100% renter mortgage is wildly different.

For example, in the North East the average couple renting could borrow £195,764 but in London the maximum 100% mortgage would be £550,002.

Buying solo

If you want to buy on your own, the maximum mortgage is a lot lower.

In the North East the average single renter could borrow £97,882 and in London £275,001.

It comes down to the way the 100% mortgage deal tests how much you can afford to borrow.

With a normal mortgage where you put down a cash deposit – even if it’s just 5% – you can typically borrow up to four and a half times your salary.

With Skipton’s renter mortgage, the maximum you can borrow is capped at what you spend on rent monthly. It makes a difference.

In the North East the average salary is £30,176 and the average house price for a first-time buyer is £139,984, according to the ONS.

If you put down a 5% cash deposit you’d need £7,000 in the bank but you could borrow up to £270,977.

The ONS puts the average rent in the area at £525 a month, so if you applied for the maximum 100% mortgage you could borrow £195,764.

These numbers are averages, so depending on how much you earn and what your monthly rent is, you could be able to borrow more or find your mortgage offer is lower.

NORTH EAST

Average first-time buyer house price: £139,984
Average monthly rent: £525
Maximum 100% mortgage for a single buyer: £97,882
Maximum 100% mortgage for a couple: £195,764

Cheap and cheerful

The asking price is low but you'll have to extend the lease to get the mortgage — The asking price is low but you’ll have to extend the lease to get the mortgage

This two-bedroom flat is in Hartlepool and comes with one bathroom and a separate reception room.

It’s on for just £27,000 but you’ll have to cough up £1,200 a year in service charges.

There’s also only 67 years left on the lease so it’s likely you’d need to extend it before you could get a mortgage approved.

That could cost several thousand pounds more.

More for your money

This house has an enclosed garden and up to date fittings in the kitchen

This two-bedroom terraced house is in Durham and is on the market at £110,000.

It’s a three mile walk to both Durham and Chester-le-Street stations.

You’d be buying a freehold so there won’t be a service charge, but if something goes wrong you’ll have to pay for it yourself.

Big bucks

The back garden is paved so low-maintenance

This two-bedroom terraced house in York is offers over £200,000 so if you’re buying as a couple you could stretch to that.

The bathroom is new and there’s a garden at the back overlooking a big green.

NORTH WEST

Average first-time buyer house price: £186,453
Average monthly rent: £635
Maximum 100% mortgage for a single buyer: £118,390
Maximum 100% mortgage for a couple: £236,781

Cheap and cheerful

This flat is a leasehold so there will be service charges and ground rent to pay

Not the most attractive outside but inside this flat the brand new kitchen makes the living area fresh and light.

On at £50,000, this two-bed flat in Bootle boasts two bathrooms and is only half a mile from Bootle New Strand station.

Bootle Oriel Road station is even closer.

More for your money

This apartment has two decently sized double bedrooms

Built in 2008, Alexandra Tower apartments start from £180,000 making it just affordable for a single buyer.

The views over the River Mersey are spectacular and the building also offers secure indoor parking and an entry-phone access system.

Big bucks

This flat boasts its own roof terrace with plenty of space to entertain

A brand new two-bedroom, two-bathroom flat in Manchester’s Wharf End on for £230,000.

If you’re a Man Utd fan this is the place for you as it’s just over the road from Old Trafford.

YORKSHIRE AND THE HUMBER

Average first-time buyer house price: £183,940
Average monthly rent: £610
Maximum 100% mortgage for a single buyer: £113,729
Maximum 100% mortgage for a couple: £227,459

Cheap and cheerful

The flat is near Hall Cross Academy and Town Field primary school

This two-bed flat is on the market at £65,000 in Doncaster and is less than half a mile from the station.

It comes with allocated parking too.

More for your money

The property has some rooms that need work and others which have been done

Located in Bradford, this two-bed “townhouse” is asking for offers over £110,000 making it just affordable for a borrower looking to buy on their own.

Big bucks

This period property has a wood burning stove and stylish kitchen and bathroom

An end of terrace cottage with two bedrooms in Shadwell, five miles from Leeds city centre.

For £220,000 you’re getting the freehold, meaning no ground rent or service charge.

EAST MIDLANDS

Average first-time buyer house price: £215,532
Average monthly rent: £660
Maximum 100% mortgage for a single buyer: £123,051
Maximum 100% mortgage for a couple: £246,103

Cheap and cheerful

For a mere £55,000 you can snap up this two-bed terraced house in Grimsby.

One for the DIY-er, this home really needs a new bathroom

There’s no onward chain to worry about meaning it should be a relatively quick purchase.

There’s a garden at the back but you’ll need to do some work to the property to make it feel like home.

More for your money

This flat is chain-free and there are two nursery schools nearby

Nottingham city centre is less than two miles from this first floor flat which has two bedrooms and an open plan kitchen and living room.

Yours for £120,00.

Big bucks

If rural living is more your thing, this two-bed terraced cottage in the village of Norton is on the market for £240,000.

The house is freehold and has two good-sized bedrooms

It’s just over nine miles to Northampton where trains run direct to Birmingham and London.

WEST MIDLANDS

Average first-time buyer house price: £213,756
Average monthly rent: £695
Maximum 100% mortgage for a single buyer: £129,577
Maximum 100% mortgage for a couple: £259,154

Cheap and cheerful

Not for the faint-hearted but if you're into DIY, then this could be for you — Not for the faint-hearted but if you’re into DIY, then this could be for you

This two-bed mid-terraced house is on at £65,000 in Stoke-on-Trent.

It’s a real doer upper and would need a lot of money spent on it to get it looking and feeling nice.

The house needs a new kitchen and bathroom but if you’re keen to add value, then this could be for you.

More for your money

Another two-bed terrace in Stoke-on-Trent – this time done up and on the market for just £15,000 more at £80,000.

Big bucks

If you’re buying as one of two borrowers then this two-bed flat in Solihull in on the market for quarter of a million.

The flat comes with underground parking and an allocated parking space

There are two bathrooms, making it ideal for friends or siblings who want to buy together and share.

Watch out for the service charge – it’s £3,800 a year and ground rent is £190 a year.

EAST OF ENGLAND

Average first-time buyer house price: £300,592
Average monthly rent: £875
Maximum 100% mortgage for a single buyer: £163,136
Maximum 100% mortgage for a couple: £326,273

Cheap and cheerful

For £80,000 this flat would make a good base for anyone commuting to London

This two-bed maisonette in Peterborough is on the market at £80,000.

Trains go direct to Kings Cross and take just under an hour.

More for your money

This two-bed cottage is well-located for commuters working in London and Cambridge

In Wisbech, Cambridgeshire you can purchase this two-bed semi for £160,000.

Downham Market station is nine miles away and is on the London Cambridge line making it a good spot for commuters.

Big bucks

Welwyn Garden City is an easy commute into central London

On at £325,000 this swanky two-bed apartment in Welwyn Garden City has its own private terrace facing West for the afternoon sun.

It comes with a designated underground parking space and it takes just five minutes to walk to the station.

LONDON

Average first-time buyer house price: £469,496
Average monthly rent: £1,475
Maximum 100% mortgage for a single buyer: £275,001
Maximum 100% mortgage for a couple: £550,002

Cheap and cheerful

This studio is in commuter belt territory, just off Sutton High Street

As you’d expect, tracking down a cheap two-bed place in the Capital is impossible unless you want a houseboat.

You can buy a whole room though.

This studio is in commuter belt territory, just off Sutton High Street with excellent train links into town.

It does have a decent sized bathroom though and could be yours for £155,000.

More for your money

This flat is in a great location if you work in the east end or City

This two-bed flat is right next to Upton Park tube making it an easy commute into the City.

It’s much cheaper than the average price paid by first-time buyers in London at just £275,000.

Annual ground rent is just £10.

Big bucks

This Stockwell flat has its own private garden

At £550,000 this two-bed flat is not cheap but it is very central and under half a mile from both Stockwell and Oval tubes.

It’s got a private garden – a real rarity in London – but to buy it with a 100% mortgage you’ll have to team up with a partner, friend or sibling.

SOUTH EAST

Average first-time buyer house price: £320,986
Average monthly rent: £975
Maximum 100% mortgage for a single buyer: £181,780
Maximum 100% mortgage for a couple: £363,561

Cheap and cheerful

This property sits in the pretty town of Freshwater on the Isle of Wight

After London, property is most expensive in the South East.

To get something reasonably cheap you’ll have to be prepared to compromise.

But if you work remotely and are on for moving to the Isle of Wight this two-bed flat in Freshwater is on the market for £110,00.

More for your money

A flat in this block should be affordable for a single borrower with a 100% mortgage

Just across the Solent and back on the mainland, this two-bed flat in Southampton is going for £180,000 making it just affordable for a single borrower to secure with a 100% mortgage.

Big bucks

The views of the sea are spectacular from this two-bed flat

It’s all about being by the sea and with £350,000 you could be the next owner of this two-bed flat in Brighton – complete with sea view from the private balcony.

You get a share of the freehold and the property comes with its own garage.