The problem
A couple from Nottingham were currently renting whilst looking to purchase a house, but were reluctant to give notice on their rental property until contracts exchanged. They wanted to avoid the overlap of paying rent during their notice period whilst also starting to pay the mortgage payments on their new home.
The solution
A Delayed Start mortgage from Skipton Building Society. The broker dealing with this case said 'Skipton and their BDM provided fantastic support'. The application was sent on 12th May and the mortgage offer was received on 15th May.
The results
The product would provided the couple with additional disposable income during the initial months – which could be used to buy essentials, such as a sofa, washing machine and fridge.
Did you know?
35% of first time buyers have to pay both rent and mortgage payment at the same time.
(source Skipton Building Society Survey, April 2025).
With a Delayed Start mortgage, with no repayments due for the first three months, it could give your clients financial breathing space to help them get settled.
Subject to eligibility and lending criteria.
