Definition: The term mortgage 0 deposit UK means that the borrower has to put down a certain percentage, typically around 25%, of their home's value as a down payment upfront to secure a loan. For example, if you're looking at purchasing a property for £100,000 and want to take out a mortgage with a 25% deposit, the borrower would need to put down a total of £25,000. This is because the lender will require the buyer to secure a portion of the purchase price as an initial deposit before they can approve the loan. It's important to note that this does not necessarily mean that you have to pay all the money upfront when you take out the loan, but rather that it is the responsibility of the seller to ensure that the borrower has sufficient funds available for the purchase.
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