Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Skipton Building Society Extends Delayed Start Mortgage to Homemovers

Skipton Building Society will now consider homemovers for its Delayed Start mortgage, which allows borrowers to defer payments for the first three months. The product was originally launched last year for first-time buyers and has since attracted £419m in applications.

The Delayed Start mortgage lets borrowers delay their first mortgage payment until three months after moving into their new home, helping them manage the costs of a move. Its extension to homemovers means buyers further up the property ladder, not just first-time buyers, can now benefit from the payment flexibility.

Where the Product Applies

The product is available on Skipton's Income Booster joint borrower sole proprietor (JBSP) product, as well as on new-build and shared ownership applications. It can also be used alongside Skipton's Track Record Mortgage, subject to eligibility criteria.

Strong Regional Demand

According to the society, most demand for the Delayed Start mortgage has come from the South East, followed by Greater London, the East of England and the West Midlands.

What the Society Says

Jen Lloyd, head of mortgage products at Skipton Building Society, said: "Moving home can be both exciting and expensive. While the mortgage is often the focus, many of the financial pressures come from everything happening around the move itself, from furnishing a property and carrying out improvements to managing overlapping costs as households transition from one home to the next."

She added: "The strength of customer demand for Delayed Start has reinforced what we've long believed: greater flexibility can make a meaningful difference at key moments in the home buying journey. That's why we've taken the decision to extend the proposition beyond first-time buyers and make it available to more homemovers."

Lloyd also noted: "As a mutual, we're focused on finding practical ways to support customers through real-life challenges. Whether someone is buying their first home or moving up the ladder, they deserve products that reflect how people actually live, move and manage their money."

Why It Matters for Agents and Clerks

For letting agents and inventory clerks, the widening of the product reflects the financial pressures households face during a move, from furnishing properties to managing overlapping costs between homes. Demand concentrated in the South East, Greater London, the East of England and the West Midlands may indicate where payment-deferral products are finding the most traction among movers.