Track Record Mortgages | 100% Mortgages

Are you trapped in the rental cycle and struggling to save enough deposit to get onto the property ladder? There is a 100% deposit-free product available exclusively to Skipton Building Society, that allows buyers who haven't owned a property in the last three years to purchase a home. 

What is a Track Record Mortgage?

It is a mortgage aimed at those renting who wish to purchase a property of their own that doesn't require a deposit. The mortgage will be on a fixed rate for five years, and you won't be charged a completion fee for the mortgage.

Who can apply?

• You haven't owned a property in the UK in the last three years
• You are 21+
• You haven't missed any payments on debts or credit commitments in the last six months
• You want to borrow up to £600,000
• You aren't looking to buy a new build flat
• You are not looking to purchase a property in Northern Ireland
• Applicants need to be a UK national or have indefinite leave to remain

Sole Applicants:

• You've paid all rent for 12 months consecutively within the last 18 months. You may also be required to show proof of payments of household bills. 

Joint Applicants (up to four people):

• You can prove that all rent has been paid either by one applicant or together for 12 months consecutively, within the last 18 months
• If you've been renting separately you can prove that you have paid all your rent
• You may be required to show proof of payments of household bills.

New criteria as of September 2024:

• Also now available on new build flats and some applicants will be able to get one of the loans when monthly repayments amount to 120% of their prior rent payments
• Borrowers can opt for a repayment period of 40 years (was 35 years)

To find out if this is the right product for you, or to discuss others, give us a call: 01628 507477.