How you can stop renting and buy a new home of your own – with no deposit

Thursday, 11th May 2023

Escaping the rental trap to a home of your own could be as simple as proving you’ve been able to pay your rent.

Skipton Building Society has just launched a new 100% mortgage exclusively for renters.

There are other lenders offering deposit-free mortgages, but unlike its competitors, Skipton’s Track Record Mortgage doesn’t require a guarantor.

Castle Green Homes sales and marketing manager Caryl Russell explained: “So many people who are renting find it difficult to save for a deposit for a home of their own as they’re focusing on paying their bills. Being able to demonstrate that you’ve been paying your rent and other household bills is a great alternative to putting down a deposit for your first home. It’s also an option for those who perhaps aren’t fortunate enough to be able to rely on parents to help them onto the property ladder.”

As the name suggests, the main criteria of the Track Record Mortgage is that you can demonstrate a track record of affordability based on your monthly rent and household bills for at least 12 of the last 18 months.

The amount you can borrow is based on your average rental payments over the last six months.

The Track Record Mortgage is based on a five-year fixed rate of 5.49%. This means if other interest rates go up or down during that time, your interest rate won’t change.

Am I eligible?


  • First-time buyer
  • Aged 21 or over
  • You have less than a 5% deposit
  • You’ve paid in full at least 12 months’ rent in a row within the last 18 months, either on your own or with the same household members you’re buying with
  • You have experience of paying all household bills (utility bills, council tax etc) for at least 12 months in a row over the last 18 months
  • You have no missed payments on debts / credit commitments (e.g. mobile phone bill) over the last 6 months
  • You want to borrow up to £600,000

Ready to buy your first home?


If you’re ready to buy your first home, you can explore where we’re building here. You can chat to our sales team via the website or visit one of our developments. We can also put you in touch with financial advisors with access to the whole mortgage market, who’ll be able to find the right deal for you.

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