Capital Credit Union has launched a 100% loan-to-value mortgage designed to make homeownership possible without the need for a deposit.
The variable rate product allows eligible first-time buyers to borrow up to £300,000, helping those who may have a strong track record of paying rent but have found saving for a deposit out of reach.
It is offered on a standard variable rate, with rates starting from 5.75% for applicants with the strongest credit profiles.
Samantha Homer, CEO of Capital Credit Union, said: “We understand that saving for a deposit remains one of the most significant obstacles facing first-time buyers today.
“Many people are successfully paying rent every month but struggle to build a lump sum for a deposit. Our new 100% mortgage has been designed to remove that barrier and provide a practical, responsible pathway into home ownership.”
Ms Homer added: “This is a nationwide commitment. We are proud to make this product available right across Scotland. For many, this could be exactly the support they need at the start of their home ownership journey.
“Homeowning should not be determined by postcode, and we are committed to making fair and accessible lending available to first-time buyers wherever they live.”
