Track Record Mortgages
Deposit-free mortgages that use your rent payment history as evidence you can afford a mortgage.
Reviewed and signed off by Patricia Ogunfeibo
Solicitor and Chartered Tax Adviser, both non-practising. UK property since 1986.
Last reviewed
- Applies to:
- England
- Last reviewed:
- Next review:
- November 2026
Checked against FCA and professional regulators, lender and industry sources. Sources are listed at the end of this guide.
Scheme and lender rules can change. How we label evidence.
Prefer to listen? This guide is available as audio, roughly 9 minutes of listening.
Executive Summary
Track record mortgages let long term renters borrow without a deposit, using a documented history of paying rent on time as the main evidence of affordability. The best known is the e.g. Skipton Building Society Track Record mortgage, and other lenders have launched similar products.
This is not free money and it is not a scheme. It is a 100% mortgage with strict conditions, a higher rate than deposit-backed lending, and no equity cushion if prices fall.
This guide covers the typical criteria, what counts as a rent record, the risks of borrowing the full value, and the cash you still need on completion.
How Track Record Mortgages Work
Instead of requiring a deposit, the lender looks at whether you have paid rent in full and on time over a sustained period, usually at least twelve months. The logic is straightforward: if you have paid £1,200 a month in rent without missing a payment, you have already demonstrated you can meet a mortgage payment of the same size or less.
Your new monthly mortgage payment is normally capped at or below your average monthly rent. That cap, rather than a standard income multiple, is often what limits how much you can borrow.
Criteria change
Lender criteria on these products move frequently. Treat the table above as the usual shape of the product and confirm the current rules with a whole of market broker before you rely on them.
| Typical requirement | What it usually means |
|---|---|
| Rent history | At least 12 months of rent paid in full and on time, evidenced by bank statements or a letting agent reference. |
| Bill history | Evidence of at least one household bill paid on time over the same period. |
| Deposit | None required for the purchase price, but you still need cash for fees and costs. |
| Payment cap | Your mortgage payment is normally capped at your average monthly rent over the recent period. |
| Credit history | Clean recent credit. Missed payments, defaults or recent arrangements usually rule you out. |
| Buyer type | First-time buyers only in most cases. |
| Property type | Restrictions are common, for example new builds and some flat types may be excluded. |
| Term and rate | Longer terms are common to keep payments within the cap. Rates are higher than deposit-backed lending. |
Building an Evidence Trail That Works
The application stands or falls on your paper trail, so start early.
- Pay rent by standing order from your own account, on the same date each month, with a clear reference. Cash payments are hard to evidence.
- If you share, make sure your share is identifiable. A single lump sum paid by a housemate does not evidence your record.
- Keep twelve months of statements showing the rent leaving your account and at least one household bill in your name.
- Ask your letting agent or landlord whether they will provide a written reference confirming no arrears.
- Avoid new credit, missed payments and overdraft dependency in the twelve months before you apply.
- Register on the electoral roll at your current address.
Rent reporting
Some rent reporting services add your rent payments to your credit file. That can strengthen a thin credit history, though it does not replace the lender’s own evidence requirements.
The Risks of Borrowing 100%
Borrowing the full purchase price means you start with no equity.
- If values fall, you can owe more than the home is worth. That makes remortgaging or selling difficult until values recover or you have paid down the balance.
- Rates are higher than for buyers with a deposit, so you pay more each month and more overall.
- A longer term keeps payments affordable but increases the total interest paid.
- You still need cash on completion for legal fees, searches, survey, removals and any stamp duty due.
- Where a small deposit is realistically within reach, compare a 95% product such as Freedom to Buy against a deposit-free product before deciding.
Myths vs Facts
MYTH
No deposit means no cash needed.
FACT
You still need money for legal fees, searches, survey, removals and any stamp duty. Work out the full figure before you start viewing.
MYTH
Paying rent on time automatically qualifies me for a Track Record 100% mortgage.
FACT
The lender also checks your credit file, your household bill history, the property type and its own affordability rules. A clean rent record is necessary, not sufficient.
MYTH
A 100% mortgage is always better than waiting to save.
FACT
Sometimes it is, sometimes it is not. No deposit means no equity buffer and a higher rate. Compare it honestly with saving a 5% deposit first.
Frequently Asked Questions
What is a track record mortgage?
It is a mortgage that uses your history of paying rent on time as the main evidence of affordability, allowing you to borrow without a deposit. The e.g. Skipton Building Society Track Record mortgage is the best known example.
Can I really buy a house with no deposit?
You can borrow 100% of the purchase price under these products if you meet the criteria, but you still need cash for legal fees, searches, survey, removals and any stamp duty due.
How much rent history do I need?
Usually at least twelve months of rent paid in full and on time, evidenced by bank statements or a letting agent reference, plus evidence of a household bill paid on time over the same period.
How much can I borrow on a track record mortgage?
Borrowing is normally limited so that your monthly mortgage payment is no more than your average monthly rent, alongside the lender’s standard affordability checks.
Are track record mortgages more expensive?
Rates are generally higher than for buyers with a deposit because the lender carries more risk. Compare the total cost against a 95% mortgage if you could realistically save a 5% deposit.
Can home movers use them?
Most track record products are limited to first-time buyers. A broker can confirm whether any current lender allows previous homeowners.
Action Checklist
Where this comes from
Each source is labelled so you can tell a government rule from market practice, and both from our own view. Read our evidence standard.
- Market practiceLender product criteria, published on each lender website
- Regulatory ruleFCA Financial Services Register
- Our guidancetenant2owner editorial standards and our own interpretation
Your next steps
You do not need to read everything. Based on this guide, these are the useful next moves.
1. Do this now
Deposit BuilderSee when your deposit could realistically be ready.
2. Read this next
Affordability & Deposit Alternatives3. If this applies to you
No deposit pathway
Not sure where this fits? See it in your Blueprint