We asked first-time homeowners about their big move and 71% said it cost more than they thought it would*. And when you think about moving costs, new furniture and the juggling act of having to manage the last month’s rent with the first month of the mortgage, it’s no wonder.
Our new Delayed Start mortgages for first-time buyers could help. With no repayments due for the first three months, it could offer your clients some much needed breathing room.
And it's already helping. Here's how a broker used it with their client:
The client mentioned that they were currently renting and were worried about an overlap of payments with their mortgage. The broker suggested our new Delayed Start mortgage products, explaining that with no repayments due for the first three months, they would not only ease the burden of this payment overlap, but they would also have more disposable income to buy essentials such as a sofa, washing machine and fridge. Their client was keen to learn more, then move forward.
The broker obtained the ESIS from eMortgages and said he had fantastic support form his BDM throughout the process.
The broker went on to say that they think ‘Delayed Start is a valuable option for first-time buyers concerned about the costs associated with moving into their first home.’
We received the application on 12th May and we were able to issue the mortgage offer on 15th May, just three days later.
If you’d like to find out more about Delayed Start mortgages, our latest option made with first-time buyers in mind, full eligibility and lending criteria can be found here - Delayed Start mortgages.
*Skipton Building Society Survey, April 2025.
