First Time Buyers – Help is on the Horizon!

With rent, bills and everything else to pay for in modern life, saving for a house deposit can be a real pain – and somewhat of a challenge for many of us today, says Ruddington’s Benwell Daykin Estate & Letting Agents.

You may have even started to believe that purchasing and owning your own home was simply impossible however, a leading lender may be able to help you. Skipton has introduced a new 100% mortgage offer to the market called a ‘Track Record Mortgage’.

In order to qualify for the Track Record Mortgage you must meet certain criteria such as:

  • Each applicant is a first-time buyer
  • Each applicant is aged 21 or over
  • You have less than a 5% deposit
  • Each applicant has 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
  • You meet the household-to-household criteria (see below FAQs)
  • You’re not looking to buy a new build flat
  • You have proof of having paid at least 12 months’ rent in a row, during the last 18 months
  • You must also have experience of paying all household bills (e.g utility bills, council tax etc) for at least 12 months in a row, during the last 18 months.

You must commit to paying a fixed rate for a five year period, meaning if interest rates go up or down during that time, your interest rate won’t change.

Even if you do not qualify for the Track Record Mortgage, there are a range of government-backed schemes available designed to help people get onto the property ladder. Why not speak to our invoice mortgage broker Stuart at our 12, High Street office?

Feel free to contact the Benwell Daykin team on 0115 990 2007 or email

Independent Financial Adviser Stuart Reynolds at Benwell Daykin

Related posts