Dr John Boyle, Director of Research & Strategy at Rettie, explains:
“Improving affordability and the relative cost of buying versus renting is bringing a fresh wave of interest from first-time buyers. People are realising that owning is not only more stable, but in many cases now, more cost-effective too.”
That shift is being supported by lenders like Skipton Building Society, who are making a real effort to open the market to more people especially those stepping onto the property ladder for the first time. Skipton has introduced a range of products and lending criteria specifically tailored to help first-time buyers overcome some of the biggest challenges.
One of their most talked-about innovations is the Track Record Mortgage. It’s a unique offering that allows renters to apply for a mortgage with no deposit, using their rental payment history as proof of affordability. If you’ve been paying rent consistently for at least 12 months, you could qualify for this mortgage even if you haven’t managed to save a typical deposit something that’s helped many buyers who’ve felt locked out of the market finally see a clear path to ownership.
In addition to Track Record, Skipton also offers flexible lending criteria for first-time buyers. These criteria recognise that not all buyers have perfect credit files or traditional employment arrangements. Whether you’re self-employed, have variable income, or are relying on gifted deposits from family, Skipton’s approach is built to accommodate more modern financial situations rather than penalising them.
These kinds of products are a lifeline in the current climate, and they’re part of why we’re seeing more first-time buyers re-engage with the market. But it’s not just about finding the right lender it’s about finding the right mortgage for your specific needs.
That’s where speaking to a mortgage advisor becomes essential.
At Rettie Financial Services, our experienced brokers can guide you through all the available options, including exclusive deals from lenders like Skipton that you won’t find by searching online or walking into your local bank. We’ll take the time to understand your full financial picture, assess your affordability, and match you with products that make sense not just now, but over the long term.
Dr John Boyle puts it well:
“The right mortgage product can have a huge impact on your financial wellbeing. Speaking to a broker early means you’re informed, empowered, and much more likely to make a decision that works for the long term.”
If you’ve been holding back, hoping for a better time to buy that time may be here. With affordability on the rise, supportive lending options like those from Skipton, and the return of buying being cheaper than renting, 2025 is shaping up to be a year full of opportunity for first-time buyers and movers alike.
Get in touch with our team today to explore your options. A quick conversation with one of our mortgage advisors could be the first step toward turning your property goals into reality it might just save you thousands in the long run.
