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Background Background
12 May 2023


THERE’S good news for renters who want to take their first step onto the property ladder after a 100% mortgage is announced.

Trying to save for a house deposit while renting has been a battle for many renters over the years however Skipton Building Society is coming to the rescue and offering first time buyers a 100% mortgage.

The Hollies

To be able to obtain a Track Record Mortgage, buyers must meet certain criteria including:

  1. Each applicant is a first time buyer
  2. Each applicant is aged 21 or over
  3. If they have a deposit, it must be less than 5% of the purchase price
  4. Each applicant has no missed payments on debts / credit commitments (e.g. mobile phone bill) in the last 6 months
  5. They are looking to borrow up to £600,000
  1. They meet the household-to-household criteria (the same people who are renting now (and have been for the last 12 months) are the same people applying for the mortgage)
  1. They’re not looking to buy a new build flat
  2. They have proof of having paid rent for at least 12 months in a row, within the last 18 months
  3. They have 12 months experience paying all household bills within the last 18 months.
  4. The monthly mortgage payment must be equal to or lower than the average of the last 6 months rental cost


For buyers wanting to purchase a home on their own, their rental and household expenditure payments must have been paid by themselves for 12 consecutive months within the last 18 months.

Lesley Myers, sales director at Kingswood Homes said: “The new 100% mortgage presents so much opportunity for first time buyers. It seems unfair that renters can afford to pay rent, which is sometimes more than their monthly mortgage payments would be, but struggle to find a mortgage or save for a deposit while losing money to rent.

“We want to help as many people in this position into their own home and our team of property experts are on hand to assist any first time buyers through the mortgage process.”

Kingswood Homes has a number of properties available at their developments in Hoddlesden and Feniscowles that are perfect for first time buyers.

At Spinners Brook in Hoddlesden, the Weaver 3 is an ideal starter home. Priced from £259,995, the three-bedroom home has a kitchen/dining room, a W/C and a lounge with French doors into the garden. Upstairs there are three bedrooms, the main bedroom with an ensuite shower room plus a separate family bathroom.

The Homestead Range at Green Hills, Feniscowles, has a Pendle 3 that is priced from £235,995. This property has a kitchen/dining room, a combined utility room and W/C, and a spacious lounge that also has room for a dining table. The lounge also includes French doors into the garden. Upstairs, there are three bedrooms, the main bedroom with an ensuite shower room plus a separate bathroom.

To find out more about all the homes currently available at Kingswood’s developments, visit www.kingswoodhomes.uk.com