100% Mortgage for New Build Mulgrave Homes – Don’t Delay
In an industry first, Skipton Building Society has launched a new 5-year fixed rate, deposit-free, 100% LTV mortgage – helping tenants across Yorkshire to break out of high-rate rental cycles and step onto the new-build property ladder!
The Track Record Mortgage is exclusively for renters aged over 21, who will not require a cash deposit to buy their first home. Instead, potential buyers must pass a credit and affordability check, as well as provide evidence of a minimum of 12 months’ on-time rent and household utility payments.
What is the Track Record Mortgage?
- A 5-year fixed rate product at 5.49% over a maximum term of 35 years
- Skipton will lend up to 100% of the property value and you can contribute a voluntary deposit of less than 5%
- This product is for first-time buyers who are currently renting and can demonstrate a track record of credibility, inclusive of all monthly rental and household expenditure for a minimum of 12 months
- Monthly mortgage payments must be equal to or lower than the average of the previous 6 months’ rental costs
Who is eligible for the Track Record Mortgage?
- All applicants must be first time buyers and aged 21 or over
- There must be no missed payments on any commitments throughout the previous 6 months
- You must provide proof of rental payments covering 12 consecutive months within the past 18 months
- You must provide proof of all household utility bills covering 12 consecutive months within the past 18 months
- You must meet the “household-to-household” criteria, meaning that those who are renting need to be the same people applying for the Track Record Mortgage
- The monthly mortgage payment for each applicant must not be more than the average of the past 6 months’ rental costs. For example, a tenant paying an average of £800 per month over 6 months would have a maximum monthly mortgage payment of £800
This product has limited availability and is in high demand, so please get in touch straight away to arrange a mortgage affordability review with our recommended financial consultants.
Our sales advisors can be contacted via the corresponding development of interest, which can be found here or email: sales@mulgraveproperties.co.uk for more information about our brand-new homes in Market Weighton, Nosterfield, Sessay, Tollerton, Shipton by Beningbrough, Rufforth, Burniston and beyond.
Further details on the Track Record Mortgage and full eligibility criteria can be found here.
