Skipton Building Society has enhanced Delayed Start Mortgage – the only one of its kind available on the market which is designed to give first-time buyers breathing space during one of life’s biggest financial transitions.
The updated product now offers even greater flexibility, allowing customers to choose between a 1, 2, or 3-month delay before their first mortgage repayment is due.
In addition, Skipton has extended the availability of the product to be overlaid onto its 100% Track Record Mortgage, which allows renters with a strong history of paying rent on time to buy their first home without needing a deposit. Aswell as Shared Ownership products, making it easier for more buyers to manage the upfront costs of moving into a new home.
Launched in May 2025, the product remains the only one of its kind on the market, that is designed to give first‑time buyers valuable breathing room during the first three months in their new home.
Since the launch it has attracted more than £200 million in applications, with the strongest application demand coming from the South East, followed by the North West, the East of England, the East Midlands and Scotland.
Research from Skipton has revealed that first-time buyers spend upwards of £30,000 in the first three months after moving, with 63% feeling financially strained and 71% saying the process cost far more than expected. These costs include furniture, appliances, and removal fees, often overlooked when saving for a deposit.
Due to the growing list of expenses associated with buying and moving into a home for the first time, 61 per cent said the financial blow took the shine off getting on the property ladder, and it took an average of eight months to recover financially.
The enhanced Delayed Start features are designed to give homebuyers greater flexibility and breathing room when moving into a new property, helping them manage the upfront costs that inevitably come with relocating. Feedback showed that while some customers value a full three-month break before their first mortgage payment, many only need one or two months to settle in. These enhancements directly reflect that insight, allowing borrowers to choose the timeframe that best suits their circumstances.
35 per cent of those surveyed were juggling costs for two properties, as rental agreements overlapped with moving in. Four in 10 (43 per cent) found it difficult to line up their move with the end of their lease, with 26 per cent blaming delays in the buying process.
Renters are a core audience for Delayed Start. When moving from renting to owning, it’s common for costs to overlap, tenancy end dates rarely line up perfectly with the beginning of mortgage payments. Delayed Start helps ease this pressure by bridging that gap.
Because this feature is especially beneficial for renters, extending Delayed Start to the Track Record Mortgage was a natural next step. Track Record is designed specifically for renters who want to buy without a deposit, and combining the two products significantly reduces the upfront financial burden.
Jen Lloyd, Head of Mortgage Products at Skipton, said: “Buying your first home should be an exciting milestone, but for many, the financial pressures of moving can feel overwhelming. That’s why we are pleased to enhance our Delayed Start Mortgage, to give buyers more choice, flexibility, and breathing space when they need it most.
We believe it’s only fair to offer options that reflect people’s unique circumstances, because no two home buying journeys are the same. Whether it’s delaying repayments for one, two, or three months, or combining this feature with our 100% Track Record Mortgage or Shared Ownership options, we’re committed to helping buyers manage those upfront costs and settle into their new home.”
As a mutual, Skipton exists to support its members. That purpose underpins decisions like these. By offering more flexible features, exclusive products and personalised guidance, Skipton aims to help its members navigate the realities of buying a home and feel more confident in their long‑term financial wellbeing.
As a mutually owned organisation, Skipton reinvests value back into its members – from access to member exclusive products and financial support, to giving members a voice and contributing 1% of profits to good causes chosen by customers.
Andrew Montlake, CEO Coreco mortgage brokers, commented:
“Skipton has once again shown it is prepared to listen to the real financial pressures first-time buyers face and respond with practical, well-thought-out solutions. Expanding its Delayed Start Mortgage to offer one, two- or three-months’ flexibility, and extending it to the Track Record and Shared Ownership ranges, gives buyers far more choice and control at a point where costs can quickly mount up.
“For many first-time buyers, overlapping rent, moving costs and furnishing a new home can be as much of a challenge as the mortgage itself. The ability to delay repayments, even briefly, can make a real difference in easing that early pressure. Combined with the Track Record mortgage, this goes a step further by helping renters buy without a deposit while giving them vital breathing room when rental payments overlap, as they so often do.”
“As ever, this won’t be right for everyone and borrowers should take professional advice to understand how it fits their circumstances, but it’s encouraging to see lenders continuing to innovate. If we want to support the next generation onto the housing ladder, more products like this, rooted in real borrower behaviour, should be welcomed.”
Skipton’s Delayed Start Mortgage Product Details:
- No mortgage repayments due for 1, 2 or 3 months depending on choice.
- Interest will accrue from day one and will be added to the overall mortgage balance.
- Exclusively for first-time buyers – at least one applicant must be a FTB
- Works with Skipton Track Record Mortgage & Shared Ownership
- Standard Delayed Start Mortgage can be used alongside Skipton’s Income Booster - Income Booster, also known as
- Joint Borrower Sole Proprietor (JBSP), allows you to add up to three extra people onto a mortgage, without making them a legal owner of the property. Skipton factor in all the incomes during the application, meaning you could borrow more than if you were taking out a mortgage on your own.
