News of a return to 100% lending took us all a little by surprise. The Skipton Track Record product has been designed to support first time buyers stuck in the rental cycle where they can demonstrate a track record of making rental payments, but may have minimal or no deposit. This is truly an exciting development for first time buyers with aspirations of home ownership.
First-time buyers are facing an uphill battle. Rapidly rising rents have made saving for a deposit increasingly difficult, at the same time that the government’s flagship Help to Buy scheme, aimed at helping first-time buyers, is no longer open.
Key Facts of the Skipton ‘Track Record’ Mortgage
- 5 year fixed rate – 5.49%
- No product fee
- No deposit required
- Maximum term 35 years
- Each applicant must be a first-time buyer
- Provide proof of rental payments & household bills for the last 12 months (in the last 18 months)
- New mortgage payment must be less than existing rental payment
If you are a first time buyer, come and see us, or book a call. We can share more information with you and see if the Track Record mortgage could work for you. In addition, an adviser will explore with you other possibilities that might help you get on the housing ladder.
Book a free, no obligation appointment here
