# First-time buyers account for majority of mortgage sales but stretching deposits

By Charlotte Harrison — 2026-09-18

Charlotte Harrison, chief executive officer of home financing at Skipton Building Society, says banks should not just look at the size of a deposit before deciding whether someone can afford a mortgage.

She said: “For too long, the industry has relied heavily on the ability to raise a deposit as a key indicator of creditworthiness, while overlooking the fact that many renters have demonstrated for years that they can successfully manage housing costs equal to, or even higher than, a mortgage payment.

“As lenders, we have a responsibility to help people achieve their financial goals while lending responsibly. Today’s mortgage market is underpinned by robust affordability assessments and stronger lending standards, allowing lenders to take a broader view of affordability and recognise where customers have already demonstrated a sustained ability to manage their housing costs.

“That’s the innovative thinking behind Skipton’s Track Record Mortgage, which was designed for renters who have consistently managed regular housing payments but face the challenge of saving for a deposit. Three years on from launch, our data continues to show that these customers are responsible borrowers who are successfully managing home ownership.

“It’s also why it’s important that lenders continue to innovate to reflect the realities facing today’s homeowners and homebuyers, which is the thinking behind initiatives such as our recently expanded Delayed Start Mortgage designed to better reflect the way people live, buy and manage their finances today.”

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