Skip to content

A deposit-free 100% mortgage is now available to first-time buyers that have been renting for 12 months or more

Yesterday, the Skipton Building Society announced the launch of their 100% mortgage product! The ‘Track Record Mortgage’ is intended to help people trapped in the rental cycle, finally own their own home.

  • Are you a first-time buyer?

  • Are you struggling to save for a deposit?

  • Do you have a track record of paying rent and household bills for at least 12 months?




The new scheme is designed to help first time buyers who have been renting and maintaining household bills for more than 12 months. This shows proof that they’re making reliable payments and are responsible enough to go ahead with a mortgage payment at the same amount as their rent – and most of the time mortgage payments for a similar property to which they’re renting, would be significantly less than their rent. What makes it even better is the upper limit of borrowing is £600,000 – which means many first-time buyers may be able to purchase their dream home.

The advantages of a 100% mortgage:

  • A 100% mortgage removes the need for a deposit – making homeownership more accessible for a wider range of people, especially in areas with high house prices.
  • Buyers can get onto the property ladder sooner – reducing the wait time to save up for a deposit and potentially benefiting from rising house prices. This also allows them to build equity over time instead of previously just paying this towards rent.
  • A 100% mortgage can improve overall affordability – making homeownership more achievable for those who struggle to save for a deposit while also covering their living expenses.
  • Buyers have greater flexibility to consider a wider range of properties and locations – rather than being tied down to a specific property or location because of the need to save for a deposit.
  • It can be particularly beneficial for those who need to relocate for work or family reasons
To qualify for a 'Track Record' Mortgage you need to be:
  • First time buyer
  • Looking to borrow up to £600,000
  • Not looking to buy a new build flat
  • Proof of having paid rent for at least 12 months in a row, within the last 18 months
    12 months experience paying all household bills within the last 18 months.

Want to know more? Get in touch with a mortgage advisor or chat to our friendly sales team to find out more! And if you’re looking for a new home, then come down to visit our show homes and have a nosey around.