First time buyers

What do I need to know?

Read our guide to buying a house.

Go to guide

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.
Affordability Calculator

Affordability Calculator

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

Affordability Calculator
First Time Buyers Guide

View our mortgages

Take a look at our range of mortgages which might be useful to get you on the property ladder.

View our mortgages

Decision in Principle (DIP)

Ready to make an offer on a property? Request a Decision in Principle.

Getting a DIP

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 could mean you would get back less than you paid in (where the temporary reduced government withdrawal charge of 20% applies, you will lose an amount proportionate to the government bonus and interest earned on that bonus). The withdrawal charge between 6 March 2020 and 5 April 2021 is 20%. 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.
Find out more

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 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.

Next steps

Online Affordability Calculator

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

Affordability calculator

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

0345 607 9825
Mon-Thurs
8am - 8pm
Fri
8am - 5:30pm
Sat
9am - 12pm

View our mortgages

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

Browse our products

Things to consider

What's on your home-buying checklist?

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

Find out more

What are the differences between mortgages?

Take a closer look at what a mortgage is and the different types you can get.

Find out more

17 ways to save for buying a house

If you're saving for your first home, here are our top tips to help you save more.

Find out more
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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