Why we bought our first home with a 100% mortgage - despite the risks

Image source, Supplied Image caption, The couple are aware of the risks that come with their no-deposit mortgage

Until last year, Conroy, 32, and his partner Amber, 28, saw little prospect of owning their own home. They were renting in central Manchester where they work and could not afford to save up for a deposit.

Then they came across a relatively niche, and some experts say riskier, type of mortgage that offered a solution.

The Track Record mortgage from Skipton Building Society covers 100% of the value of a property, with the borrower paying nothing upfront.

Borrowers must meet strict eligibility checks and pay a higher interest rate - in Conroy and Amber's case 5.33% fixed for five years - but they were happy to do this. And in August they bought a four-bed home for £242,000 in Swinton on the edge of Manchester.