Charles Church

New 100% loan-to-value mortgage means renters can buy with no deposit

11 May 2023

Renters can break free from the cycle thanks to a new 100% mortgage from Skipton Building Society.

Your own home could be closer than you think, if you’re eligible to use Skipton’s Track Record mortgage which offers a loan-to-value (LTV) of up to 100%.

In times when saving enough for a deposit can seem like an impossible task, this offers a solution for those trapped in the costly rental cycle.

How does it work?

The five-year mortgage is available to first-time buyers with a deposit of 5% or less, who have previously been renting. Applicants will need to provide proof of having paid at least 12 months’ rent and household bills in a row, during the last 18 months.

Using Track Record, those who are eligible can borrow up to £600,000, provided the monthly mortgage payments using the scheme are less than their current average monthly rental payments. For example, if the average rent over the last 6 months is £1,000, the monthly mortgage payment must be £1,000 or lower. The maximum mortgage term is 35 years.

Want to know more?

You can find out more on Skipton’s website, which includes a Track Record Calculator to learn how much you might be able to borrow for a new home.

Alternatively, get in touch with our friendly sales advisors at your nearest development.  


Applicants may be eligible if:

Household-to-household means that the same people who are renting now (and have been for the last 12 months) are the same people applying for the mortgage.

If applying alone, the rental and household expenditure payments must have been covered entirely for 12 consecutive months within the last 18 months.

Joint applicants (maximum of 4 per application) will need to evidence that these payments have been made either:

  • collectively, or
  • wholly by one applicant.

Joint applicants who have been renting separate properties will be eligible, as long as each applicant can evidence that they have individually covered their entire rental and household expenditure payments. In this instance, when calculating the max loan amount based on the average rental payment over the last 6 months, their combined rental payments can be used.

  • Each applicant must be a first-time buyer
  • Each applicant must be aged 21 or over
  • They have proof of having paid rent for at least 12 months in a row, within the last 18 months
  • They have 12 months experience paying all household bills within the last 18 months
  • Each applicant will have no missed payments on debts / credit commitments (e.g. mobile phone bill) in the last 6 months
  • They must have less than a 5% deposit
  • They must be borrowing up to £600,000
  • They must also meet the household-to-household criteria described above.


Applicants will not be eligible if:

  • Their rent, averaged over the last 6 months, is lower than the new monthly mortgage payment indicated by the borrowing calculator, even by a minimal amount
  • They are buying a new build flat. This is any flat being sold for occupation for the first time which has been newly built or converted within the last 3 calendar years.


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