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.

Capital Credit Union’s 100% mortgage is offered on a standard variable rate, with rates starting from 5.75% for applicants with the strongest credit profiles. As a variable rate product, monthly repayments may rise or fall in line with wider interest rate changes. The mortgage carries a £995 product fee and is available with terms of up to 35 years.

This mortgage has been developed as a practical solution for buyers at the beginning of their home ownership journey, offering what many may see as a true “starter home loan” to help them get their foot in the door.

To be eligible, applicants must not have held a mortgage within the past three years. For joint applications, both applicants must meet this criteria.

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.”

The product is available nationwide across Scotland, ensuring access for eligible buyers in both urban and rural communities.

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.”

All applications are subject to affordability and lending assessments. Full terms and conditions will be available on the Capital Credit Union website mortgage pages.
Capital Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Firm Reference Number 213575).