The no-deposit mortgage that lets tenants buy the home they live in … with a gift from the landlord

Graham and Lisa outside the two-bedroom bungalow they bought from their landlord, with a ‘gift of equity’ – in other words, a price cut – removing the need for a deposit. Photograph: Handout

A growing number of people are taking out a little-known type of mortgage that allows them to buy a property without having to put down a deposit.

Several lenders offer “concessionary purchase” mortgages, meaning that a tenant can buy the property they are living in from their landlord at a marked-down price.