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May 11, 2023


Skipton Building Society have announced a new 100% mortgage

The announcement of a new 100% mortgage is aimed specifically at those currently renting. The new product from Skipton Building Society will enable customers to access the property ladder without a deposit, the first 100% loan since 2008.

Data from Halifax has previously reported that the average amount put down as a deposit by those buying their first home in 2022 was £62,470 – up 8% on 2021.  Soaring house prices and private rents are just some of the reasons why many first-time buyers are finding saving up for a sufficient deposit a challenge.

Skipton Building Society is now launching a mortgage targeting aspiring home-owners who may be “trapped in rental cycles’ or have little savings or financial support from families, and therefore unable to get onto the property ladder.

According to The Guardian, the new product will be available up to 100%, and borrowers will need to demonstrate a history of paying rent for up to two years (comparable to mortgage repayments), with the deal fixed for more than two years to guard against the risk of falling into negative equity.

This will also be available for people looking to buy new build houses.


Jones, R. (2023) UK mortgage lender to offer first 100% loans since 2008 crisis, The Guardian. Available at: (Accessed: 09 May 2023).


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