New first-time buyer mortgage with no repayments for the first three months launched

FIRST-TIME buyers struggling to manage the hefty costs of getting on the property ladder now have a new option to ease the financial strain.

Skipton Building Society has introduced its Delayed Start Mortgage, allowing borrowers to postpone repayments for the first three months after moving into their new home.

AlamyThe Delayed Start Mortgage offers fixed rates ranging from 4.78% to 5.4% and is available to buyers with deposits starting at just 5%[/caption]

The lender says...