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Published 09:05 10 Apr 2025 GMT+1

Barclays is offering mortgages with a £0 deposit and many Brits are eligible

Here is how you can find out if you're eligible

Brenna Cooper

Featured Image Credit: Getty Stock

Topics: UK News, Money

Brenna Cooper

Brenna Cooper is a journalist at LADbible. She graduated from the University of Sheffield with a degree in History, followed by an NCTJ accredited masters in Journalism. She began her career as a freelance writer for Digital Spy, where she wrote about all things TV, film and showbiz. Her favourite topics to cover are music, travel and any bizarre pop culture.

@_brencoco

Barclays is currently offering mortgages with a £0 deposit for Brits up and down the country — here is how to find out if you're eligible.

Buying a home in the UK is no easy matter. Most of us will spend years scraping together enough money for a deposit and then several more months desperately putting in offers on every available property — only to be rejected in favour of someone who can offer the entire asking price in cash.

It's a tough world out there, but what if I told you there was another way?

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For a number of Brits, Barclays bank has announced that its scrapping the requirement for a deposit for anyone looking to purchase a home or flat under the Right to Buy scheme.

Buying a house can be a nightmare (Getty Stock Images)

The bank confirmed on 8 April that it would be using the Right to Buy (RTB) discount in place of a deposit for tenants looking to buy their council or housing association homes.

Introduced by the government under the Housing Act of 1980, the scheme allows eligible council tenants in England and Wales to purchase their rented homes at a discounted rate, implemented as a way to increase the numbers of homeowners across the country.

What is the Barclays zero deposit scheme?

Previous borrowers looking to access the RTB scheme were required to supply a deposit, however the new scheme will now use the RTB discount in place of a deposit.

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For example, a person who would be eligible to receive a 35% discount through the RTB scheme will now have a 35% mortgage when looking to purchase their property through Barclays.

They will also be able to take advantage of the lower loan-to-value (LTV) mortgages depending on how much of a discount they're eligible for.

Those eligible for the government's Right to Buy scheme can now purchase their home without a deposit (Getty Stock Images)

A loan-to-value ratio is calculated by measuring the amount of money you're borrowing compared to the total price of your property.

Who is eligible for the Barclays zero deposit scheme?

The zero deposit scheme is available to anyone who is eligible to purchase their home under the Right to Buy scheme.

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According to guidance from the UK government website, you can buy your council home if:

it’s your only or main home
it’s self-contained
you’re a secure tenant
you’ve had a public sector landlord for 3 years. Public sector landlords include a council, housing association or NHS trust

Tenants living in ex-council homes sold to another landlord while they were living in it may still be eligible to use the Right to Buy scheme, known as 'Preserved Right to Buy'.

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"The Right to Buy scheme has long been a crucial route to home ownership for council and housing association tenants, yet we know that saving for a deposit remains a key obstacle," Lee Chiswell, Head of Mortgages at Barclays, said of the scheme.

"By lending for the full value of the property, we’re removing the need for buyers to have any deposit at all, helping many completely sidestep their largest barrier to home ownership."