How Netflix and Spotify can help first time buyers get a mortgage

Building societies look at new ways to make buying a house possible

Netflix and Spotify apps appear on the screen of an iPhone

(Getty Images)

Having subscriptions to Netflix and Spotify might help aspiring homeowners get on the property ladder thanks to a new mortgage concept.

Leeds Building Society has connected to Experian’s free Experian Boost service and the practice will help the potential borrower by showing lenders that their ability to pay for the subscriptions can prove, in a small way, their financial track record.

The move comes as Skipton Building Society, another Yorkshire bank, has announced it has launched a mortgage that does not require a deposit.