Mortgage guide

We have over 160 years of lending experience and expertise that we can use to your advantage to help you find the mortgage that’s right for you. Whether you’re a first time buyer looking to make your first step onto the property ladder, or an experienced buy to let investor, we can provide you with mortgage advise and a suitable product.

Find the right mortgage for you

Some mortgages are designed to protect you from rate rises, others offer discounts or other incentives. Here we explain some of the options, highlighting the benefits and drawbacks of each.

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

Fixed Rate

Could be the right mortgage for you if:

you'd like the security of a fixed rate and set monthly payments.

You may need the reassurance of a fixed rate mortgage where the interest rate will stay the same for a set period of time. This can help you to budget and protect yourself against interest rate rises. You should be aware, however, that a fixed interest rate means that you won't benefit from any fall generally in interest rates during the product period. You can usually fix your mortgage rate for between two and five years.

Fixed Rate mortgages

Variable Rate Discount

Could be the right mortgage for you if:

you are looking for lower rates at the time your mortgage begins.

This type of mortgage offers a discounted variable rate for a specific period of time. Your payments may increase if interest rates rise, but you will enjoy lower payments initially to take the pressure off whilst you make renovations, for example. These discounts are taken off the lenders variable rate which is set by the lender and are not linked to the Bank of England Base Rate.

Discount mortgages

Help to Buy

Help to Buy is a government backed scheme, where a shared equity loan is available from the government in England, Wales and Scotland to both first-time buyers and home movers, on new build homes worth up to £600,000 in England £200,000 in Scotland (which complete on or before 31st March 2018) and £300,000 in Wales. Enabling you to obtain a mortgage, in some instances, with a deposit as little as 5%.

Under the scheme, the Homes and Communities agency, lends you up to 20% in England & Wales, 40% in London and 15% in Scotland, of the cost of a new-build home included in the Help to Buy scheme, interest-free for five years. This equity loan, combined with your minimum buyer deposit of at least 5%, is available with any of our select Help to Buy residential mortgages at up to 75% Loan-to-Value (LTV) in England, Wales and London and up to 80% Loan-to-value (LTV) in Scotland, giving you access to a wide range of attractive mortgage rates.

Help to Buy mortgages
Help to Buy

Let us help you get the right mortgage 

Who you are and what you want to do helps us identify the right mortgage for you.

Buying a house for the first time is exciting and there is lots we can do to help. We’ll provide clear, useful advice and guidance through every stage. Our product offering also includes mortgages at up to 90% Loan-to-Value, meaning you’ll only need a 10% deposit.

View products suitable for first time buyers
If you're thinking about moving house, we have a range of mortgages available to suit you. With fixed rate and variable rate products available over a variety of terms, we're here to help you find the mortgage that's right for you.
View products suitable for moving house

We've cut the cost of changing to a new mortgage deal. All standard valuation and legal fees are paid for you on our remortgage products, to make switching easier.

View products suitable for remortgaging
If you are an existing customer whose current mortgage product deal with Skipton has ended or is coming to an end, why not review your options and see if a new deal is available.
Find out more about switching mortgage
If you're looking to invest in a property which you then plan to let out, we have a range of buy to let mortgages that could be ideal for you. We have both fixed rate and variable rate buy to let mortgages available to suit a range of individual needs.
View products suitable for buy to let
If you have an existing mortgage with us, you may be eligible for additional borrowing. This means that if you need to borrow more money, perhaps for redecorating or an extension to your home, we may be able to increase your mortgage borrowing.
View products suitable for additional borrowing
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 2020 What Mortgage Awards for the 7th year running, following four month's of consumer voting.

Why choose Skipton?
Best National Building Society
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