First time buyers

Start your journey to getting the keys to your first home. Find out how much you might be able to borrow, and learn more about our mortgages, saving for a first home and government schemes.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Saving for a deposit - Online Cash Lifetime ISA

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 could mean you would get back less than you paid in.
  • After the first 12 months, 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.
  • We’ve got a range of mortgages suitable for first time buyers and Skipton Lifetime ISA customers who are buying their first home with a Skipton mortgage will be eligible for £250 cashback following completion. Terms and conditions apply.^
Lifetime ISA

Help to Buy Equity Loans 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 cash deposit of 5% of the sale price (or 10% if you're buying in Scotland) and a 75% mortgage to make up the rest. Help to Buy Equity loans 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 on the government's website below.

Help to Buy for England and Wales

Help to Buy for Scotland

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.

Want to find out more about Shared Ownership? Read our handy guide to shared ownership.

For more information on these and other government schemes, visit our Government Schemes page.

New Build properties

If you're buying a New Build house with a deposit of less than 10% of the property value, give us a call to find out whether we have a suitable deal for you. If your deposit is 10% or more, or if you're buying a new build flat, you'll have access to our standard mortgage range. The minimum deposit you'll need for a new build flat is 15% of the property value.

Head over to our New Build mortgages page to find out more about what we offer.

New Build mortgages

Next steps

Online Affordability Calculator

Work out how much you might be able to afford to borrow, based on your income and outgoings.

Call us

If you've already got a Decision in Principle or prefer to request one over the phone, speak to our mortgage team on

8am - 6pm
8am - 5:30pm
9am - 12pm

View our mortgages

We have a range of mortgages available to first time buyers.

^£250 cashback mortgage terms and conditions

Subject to our normal affordability assessment and lending criteria at the time, Skipton Lifetime ISA customers who are buying their first home with a Skipton mortgage will be eligible for £250 cashback following completion of their mortgage. This offer is only valid for mortgages completing from 6 April 2018 to 30 June 2027. Cashback will be paid for new mortgages where at least one of the applicants is a Skipton Lifetime ISA customer buying their first home. If the mortgage is in joint names and with another Skipton Lifetime ISA holder, only one cashback amount will be paid. Cashback will only be available once.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Best National Building Society

We're proud to have been named Best National Building Society in the 2021 What Mortgage Awards for the 8th year running, following four months of consumer voting.

Why choose Skipton?
Best National Building Society
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