Saffron Green and her husband Reece purchased a £156,000 house at age 21 with only £600 in savings, thanks to a mortgage product designed for tenants who can prove consistent rental payments.
Determined to Escape Renting
The couple, from Pontefract, spent over 18 months renting after leaving their family homes but always aimed to own their own property. Saffron, a travel sales advisor, told Skipton Building Society: "My husband and I didn't really want to rent, and both always wanted to get on the property ladder." She added: "About a year into renting was when we realised how hard it was to save, pay rent and bills. We couldn't get enough money saved for a deposit; every time we saved a bit of money, something happened, eg vets bill or the car."
Obstacles and the Track Record Mortgage
The couple began their property search in August 2024 when their 12-month rental agreement ended, but faced further hurdles. Saffron noted: "I needed to be 21 to qualify, so we agreed to another 12 months renting, but we still continued to look until my 21st birthday in October. Having to wait until I turned 21 was rather frustrating, as we were already viewing houses and found an almost perfect home that we didn't get chance to put an offer on as I wasn't 21 yet."
Through their own research and a mortgage broker, they discovered the Track Record Mortgage from Skipton Building Society. Saffron explained: "We found out about the Track Record mortgage by researching and also our amazing mortgage broker. I asked him if it was possible for us and he set up a meeting with us both, explained the criteria and helped us through the whole process." The main challenge, she said, was the solicitors: "Being first-time buyers, we expected them to be a little more understanding and explain things a little more to us."
Homeownership Achieved
The couple moved into their first home, valued at £156,000, and are currently renovating. Saffron said: "We're about 50% done. The kitchen is next on the list. It's nice knowing that we can do whatever we want to this house, plus we've found that owning a home does feel more secure than renting, as we know we are here until we decide to sell up." Reflecting on the experience, she added: "Without the Track Record, we honestly wouldn't have been able to buy a home. We would definitely still be renting, at least three or four years more. Saving money for a deposit was our biggest barrier - the Track Record really was our saviour."
Industry Perspective
Jen Lloyd, head of mortgage products and proposition at Skipton Building Society, commented: "Getting onto the property ladder is becoming increasingly challenging for renters, as they try to balance the cost of living with saving for a deposit and all the other associated costs that come with buying your first home. The figures in our latest research are a stark reminder of the pressures many are facing, often despite already demonstrating they can afford significant monthly housing costs." She continued: "In many cases, renters are already meeting payments comparable to a mortgage, but the barrier of saving a deposit continues to hold them back. We believe it's only fair that people who have demonstrated they can afford regular rental payments have a real opportunity to become homeowners, even if high rental costs have made it difficult for them to save for a deposit."
Lloyd added: "But buying a property can unlock much more than homeownership – it can provide greater stability, support long-term wellbeing, and give people the confidence to move forward with major life plans. This year also marks three years since the launch our Track Record mortgage, which was created to provide an innovative solution for renters who may feel trapped in the rental cycle. Since launch, it has helped more than a thousand renters take their first step onto the property ladder, with many buying a home without any deposit at all. In fact, more than half are now paying less on their mortgage each month than they previously did in rent."
