Track Record Mortgage

Good news! Our Track Record mortgage is now available to more people. If your client hasn't owned a property in the last 3 years in the UK they could be eligible.

What are we offering?

  • Up to 100% LTV mortgage for current renters, who haven't owned a property in the last 3 years and can demonstrate a track record of affordability of ALL monthly rent for a minimum of 12 months in the last 18-month period
  • If there is a deposit, we are happy to consider even if it’s gifted. If the client has a deposit of 5% or more, they should seek our standard products as Track Record is designed for >95% lending
  • After 1 year of helping renters into their homes we have made various improvements to the way we calculate affordability which should help more customers step up on to the property ladder. This means in some circumstances we will lend loans which have monthly payments up to 120% of the rent the customer is currently paying
  • Max term 40 years
  • Max LTI 4.49 or 4.75 if income >£50k

Please note that this product may be withdrawn at any time and without notice.

Which? Recommended mortgage provider for October 2023
Which? Recommended mortgage provider for October 2024
Your Mortgage award for Best First-Time Buyer Mortgage Lender from 2023 to 2024

Who is eligible?

Your clients might be eligible for this product if:

  • Each client hasn't owned a property in the UK in the last 3 years
  • Each applicant is aged 21 or over
  • If they have a deposit, it must be less than 5% of the purchase price
  • In addition to standard lending policy relating to missed payments and adverse credit, each applicant must have no missed payments on debts / credit commitments (e.g. mobile phone bill) in the last 6 months
  • They are looking to borrow up to £600,000
  • They have proof of having paid rent for at least 12 months in a row on a UK property, within the last 18 months
  • They have 12 months experience paying all household bills within the last 18 months
  • They are not looking to buy a property in Northern Ireland.

Sole applicants:

  • They've paid all rent for 12 months in a row, within the last 18 months. Depending on circumstances, we may also want to see proof of payments of household bills.

For joint applicants (up to 4 people):

  • They can prove that all rent has been paid either by one applicant or collectively for 12 months in a row, within the last 18 months
  • If your clients’ have been renting separately, they can prove that they have paid all their rent
  • In either case we may also want to see proof of payments of household bills.

How much could your client borrow?

To work out how much your client could borrow, you will need to complete the full Affordability Calculator. This will give us a detailed view of your client's situation and how much we could potentially lend based on their average monthly rental payments (calculated as a mean average over the last 6 months), and current income and outgoings.

Please note, the Track Record product interest rate must be entered on the first page of the Affordability Calculator, so that the maximum loan amount can be calculated correctly.

We have removed the Track Record calculator from the website as all rental calculations have now been incorporated into our standard Affordability Calculator.

Affordability Calculator

Frequently Asked Questions

They may be accepted in this case as long as they can provide evidence of at least 12 months rental payments in the UK higher than the proposed mortgage payment. If all applicants moved out more than 6 months ago, unfortunately they will not be eligible. If they rent again for a minimum of 12 months' we can consider their application in the future.

12 months bank statements (full or concise) or a letter from the lettings agent (ARLA or other suitably registered lettings association e.g. NAEA, NACA) on headed paper, detailing the 12 monthly rent payments.

Yes, but we will only accept a letter from an ARLA registered letting agent (or other suitably registered lettings association, e.g. NAEA, NACA) as proof of 12 months rental payments.

Yes. We accept applications for new build homes.

A new build home is one that's being sold for occupation for the first time, which has been newly built or converted within the last 3 calendar years.

Our Track Record Mortgage can be used alongside Shared Ownership. However it cannot be used in conjunction with any other schemes. This includes but is not limited to Joint Borrower Sole Proprietor, First Homes (England), Help to Buy (Wales).

No, unless they have evidence of pre-settled/settled status under the EUSS, permanent rights of residency, or indefinite leave to remain in the UK. But, if this is a joint application and the income of a VISA holder is not being used as part of the affordability assessment, they could be eligible.

Yes, as long as there is no formal tenancy agreement in place. Income from renting the room can’t be used within the Affordability Calculator.

The service charge will need to be included in the Affordability Calculator so that the correct maximum loan amount can be calculated.

No. Although the property is held in the limited company, and they may meet the first-time buyer criteria, they will not be eligible.

No. If they have plans to move abroad when applying for the mortgage, they will not be eligible.

We may be able to consider a Track Record mortgage depending on their individual circumstances, please contact us to discuss.

Yes, but we may need evidence of how the funds were accumulated to make the lump sum payments. The payments must have been made from the applicant’s own funds, with no help from anyone else.

Yes, they can apply for a Track Record mortgage, but any housing benefit would need to be removed when you enter the total monthly rent into the Affordability Calculator. For example, if their rent for the last 6 months is £500 but they have received £150 monthly housing benefit, you would enter £350 into the Affordability Calculator. You must also exclude any housing benefit from their income, regardless of whether it will remain on completion of the mortgage.

Yes, they can apply for a Track Record mortgage, but any housing benefit would need to be removed when you enter the total monthly rent into the Affordability Calculator. For example, if their rent for the last 6 months is £500 but they have received £150 monthly housing benefit, you would enter £350 into the Affordability Calculator. You must also exclude any housing benefit from their income, regardless of whether it will remain on completion of the mortgage.

Yes, they can apply for a Track Record mortgage as long as they can clearly show both:

  • the rent part of the payment, for calculating the maximum loan amount (i.e. tenancy agreement or letting agents letter (needs to be Association of Residential Lettings Agents (ARLA) registered, or suitable alternative, e.g. NAEA, NACA)
  • if needed, the utilities part of the payment is paid at full market rates with no discounts.

Where two individual people (or households) are paying their rent without the help of anyone else, and meet all other eligibility criteria, we may allow them to buy together. In this scenario, we will allow the rents to be merged as the amount being entered into the Affordability Calculator.

The maximum amount we will lend is 100% of whichever is lower, the purchase price or the valuation/home report, up to £600,000. If the purchase price is more than the home report figure, we could lend the valuation amount on the home report, and they can make up the difference using their own funds.

Yes. But regardless of whether they’ll continue to receive board payments after they have bought the property, it must not be included as income in the Affordability Calculator.

As long as they can evidence, if required, that they have been solely responsible for all rent for 12 months in a row within the last 18 months, we may consider a sole mortgage. It is also acceptable in this scenario to add a non-contributor on to the mortgage if they wish, provided they also meet all the eligibility criteria.

Yes, as long as the applicants can provide evidence that they are the people that have been solely responsible for the rent for 12 months in a row within the last 18 months.