First time buyers

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Affordability Calculator

What can I afford?

Our affordability calculator can give you an idea of how much you could borrow.

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Online Decision in Principle

What could I borrow?

When you’ve found a house you want to buy, it’s worth getting a Decision in Principle (DIP)

How much could I borrow?
First Time Buyers Guide

What else do I need to know?

For a detailed break down and further steps, please take a look at our how to buy a house guide.

Our guide

Saving for a deposit - Online Cash Lifetime ISA

First time buyers Tom and Hannah share their top tips for saving for a deposit. 

Key points:

  • This is a savings account which can be opened by people between the age of 18 and 39 to save up to your Lifetime ISA allowance (currently £4,000 tax-free each year).
  • The government will pay a 25% bonus on your contributions, currently up to a maximum of £1,000 a year and it can be used to help you save for your first home.
  • Your Lifetime ISA allowance forms part of your overall £20,000 annual ISA allowance.
  • Any withdrawals within the first 12 months of your first payment into a Lifetime ISA will incur a 25% government withdrawal charge, which would mean you would get back less than you paid in. After that, you can withdraw money to buy your first home, but for any other withdrawals before the age of 60, the government withdrawal charge will apply.
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Help to Buy and Shared Ownership

Help to Buy Equity Loans is a government scheme designed for new-build properties to help you to own your first home or to move up the property ladder.

The government lends you up to 20% in England and Wales, 15% in Scotland and 40% in London towards the cost of your home, so you'll only need a 5% cash deposit (or 10% if you're buying in Scotland). They are only available if you meet the eligibility criteria and you're buying a new-build home. You can find out more about the government Help to Buy equity loan scheme at the government website

Shared Ownership allows you to buy a share of the home and pay rent for the rest. This means you take a smaller mortgage, so the deposit required is lower. However, you need to make sure you budget for your monthly mortgage payments plus the rent.

Next steps

View our products

We have a range of mortgages available to first time buyers starting with a minimum 5% deposit.

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Ready to apply

For an affordability check, Decision in Principle or to talk to us about our mortgage products please call us on 0345 607 9825

Things to consider

What's on your homebuyer wish list? 

For some it’s proximity to schools. For others it’s the commute to work.

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Need to insure your home?

Choose from a range of cover designed to make insuring your home as simple as possible

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How to save £3,000 without really trying

If you’re saving for a house, here are our tips to help you to save.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice. Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

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