7 May 2025
Delayed Start Mortgage from Skipton
Skipton Building Society has launched their ‘Delayed Start’ mortgage which could be great for first time buyers, as they won’t be required to make mortgage repayments for the first three months.
According to a survey by Skipton, first time buyers who bought their home in the last five years found that in the first three months of living there, they were spending upwards of £30,000. 71% of people said that they found the moving process was a lot more expensive than they had anticipated.
The idea of this new product is to allow first time buyers to settle into their new home without having the pressure of mortgage repayments for three months, meaning they can pay for the other costs that come with buying and moving into a new home.
Skipton’s research showed that first time buyers spend the following during and just after moving in (on average):
- £3,500 on furniture
- £2,600 on kitchen appliances
- £1,700 on removal companies
In addition to extra costs, 35% of people said they were having to pay for two houses as their rental properties overlapped, with 43% reporting that they found it hard to work out their move with the end of their rental lease.
The Delayed Start mortgage will mean there will be no mortgage repayments due for the first three months and can also be taken out with Skipton’s ‘Income Booster’ product.
Interest will be accumulated from the start and will be added to the mortgage balance.
There are two and five-year fixed rates available:
- Two-year fixed rates start from 4.87% at 90% LTV and 5.20% at 95% LTV
- Five-year fixed rates start from 4.78% at 90% LTV and 5.00% at 95% LTV
- New-build properties - 95% LTV two-year fixed rate at 5.40% and five-year fixed rate at 5.20%.
If you have any questions about this product and would like to see if you fit the criteria, or would like to discuss another product, please give our team a call on 01628 507477.
Recent posts
On Wednesday, 13th May, King Charles delivered his speech at the House of Lords, outlining the government’s plans for the upcoming year.
Here is a summary of the housing and energy/environment points.
From 18th May 2026, Lloyds Banking Group is launching a ‘£5k Deposit mortgage’ to help first-time buyers get onto the property ladder sooner.
Homeowners could be faced with paying over £3,000 more per year on their mortgage if the conflict in the Middle East continues, following new analysis from INTEREST from Moneyfacts.
Best UK Mortgage Rates this Week
9 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Renters' Rights Act
17 days ago
The Renter’s Rights Bill became law at the end of October, which means it has been signed off by the King, and it is now the Renters’ Rights Act. Despite this becoming law, these changes are likely to start changing within the next six months, with the aim of being fully implemented throughout 2026 and into 2027.
Green Mortgages | Rewards and Benefits
17 days ago
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
Costliest Streets in Great Britain
21 days ago
Recent data from Rightmove shows the most expensive streets in Great Britain, with the majority being situated in the capital.
The Bank of England Governor, Andrew Bailey, has advised that, due to the “very big energy shock” the economy is facing, they won’t be in a rush to increase UK interest rates.
More information
Trusted by
