The Track Record mortgage, which was launched to the market in 2023 to much acclaim due to its no-deposit requirement and inclusion of rental history, has also secured over £198.6m in applications since its launch.
Looking at completions, Skipton Building Society said Scotland accounted for 20% of Track Record mortgage case completions, followed by the South East, North West and Yorkshire and the Humber, all at 11%.
Greater London made up around 2% of cases, Skipton Building Society said.
| Region | Percentage of completions |
| East Midlands | 9% |
| East of England | 9% |
| Greater London | 2% |
| North East | 9% |
| North West | 11% |
| Northern Ireland | 0% |
| Scotland | 20% |
| South East | 11% |
| South West | 6% |
| Wales | 6% |
| West Midlands | 5% |
| Yorkshire and the Humber | 11% |
The Track Record mortgage is aimed at helping renters get onto the property ladder without the Bank of Mum and Dad or guarantors.
Borrowers can access up to £600,000 and will need to evidence that they have paid all rent for 12 months in a row within the last 18 months and proof of payment for household bills.
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The lender widened the Track Record mortgage to allow tenants who have previously been homeowners in 2023, and a shared ownership option was added in 2024.
Jen Lloyd, Skipton Building Society’s head of mortgage products and proposition, said: “We launched the Track Record Mortgage in 2023 to help tackle the UK’s housing affordability crisis and give renters trapped in cycles of rising rents the opportunity to get onto the property ladder.
“I’m incredibly proud that we’ve been able to make homeownership a reality for so many renters who may [have] thought it was out of reach. With over £198.6m in applications, the success stories speak for themselves, this is exactly why we created this product.
“We know there’s no single solution to the challenge of renters being locked out of homeownership, especially with rents rising faster than mortgage payments and the broader cost-of-living pressures. But standing still isn’t an option.
“That’s why we’ve continued to evolve the product, expanding the maximum term from 35 to 40 years, allowing new-build flats and introducing cashback options. And we’re not stopping there; we’ll keep innovating, not just in this space, but across the board, to open the door to homeownership for even more people.”
