Skipton enhances Delayed Start mortgage with new 1–3 month payment delays

Skipton Building Society has enhanced its 'Delayed Start' offering which is designed to give first-time buyers breathing space after completing on their mortgage. 

The updated product now offers greater flexibility, allowing customers to choose between a one, two or three-month delay before their first mortgage repayment is due.

In addition, Skipton has extended the availability of the product to be overlaid onto its shared ownership products or 100% Track Record Mortgage, which allows renters with a strong history of paying rent on time to buy their first home without needing a deposit. 

Since the launch in May 2025 it has attracted more than £200 million in applications, with the strongest application demand coming from the South East, followed by the North West, the East of England, the East Midlands and Scotland.

Moving costs take shine off getting on the ladder for first-time buyer

Research from Skipton has revealed that first-time buyers spend upwards of £30,000 in the first three months after moving, with 63% feeling financially strained and 71% saying the process cost far more than expected. These costs include furniture, appliances, and removal fees.

61% said the financial blow took the shine off getting on the property ladder, and it took an average of eight months to recover financially.

Feedback showed that while some customers value a full three-month break before their first mortgage payment, many only need one or two months to settle in. 

35% of those surveyed were juggling costs for two properties, as rental agreements overlapped with moving in. Four in 10 (43%) found it difficult to line up their move with the end of their lease, with 26% blaming delays in the buying process.

Because this feature is especially beneficial for renters, Skipton says extending Delayed Start to the Track Record Mortgage "was a natural next step". 

Jen Lloyd, head of mortgage products at Skipton, said: “Buying your first home should be an exciting milestone, but for many, the financial pressures of moving can feel overwhelming. That’s why we are pleased to enhance our Delayed Start Mortgage, to give buyers more choice, flexibility, and breathing space when they need it most.

"We believe it’s only fair to offer options that reflect people’s unique circumstances, because no two home buying journeys are the same. Whether it’s delaying repayments for one, two, or three months, or combining this feature with our 100% Track Record Mortgage or shared ownership options, we’re committed to helping buyers manage those upfront costs and settle into their new home.”