Best Skipton Building Society mortgage deals
Whether you're an existing customer or a first-time buyer, compare the best mortgage interest rates from Skipton Building Society with our comparison tool below. To see what rate you could be offered, create a free Tembo recommendation.
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What type of mortgages does Skipton Building Society offer?
Skipton Building Society offers an extensive range of mortgages. The most well-known from their first-time buyer range is their 100% Track Record Mortgage, but they also offer guarantor mortgages like an Income Boost, First Homes, shared ownership as well as 95% mortgages for buyers with smaller deposits. On top of this, they also offer fixed-rate and tracker mortgages for first-time buyers, home movers, remortgagers and buy-to-let customers.
As with any provider, whether Skipton Building Society is the best mortgage lender for you depends on your affordability and unique circumstances, what mortgage products you're eligible for, and what the market is currently like. An expert mortgage broker like Tembo can help you navigate these factors to ensure you get the best mortgage deal for you.
How much could I borrow from Skipton Building Society?
Like most mortgage lenders, Skipton Building Society offers a range of mortgage products with different eligibility criteria. How much you could borrow for a mortgage depends on which products you're eligible for, your household income and deposit, and other factors like your credit score, employment type, and outgoings. But typically you can borrow between 4-4.5 times your income, although some applicants may be able to borrow more than this.
By creating a free Tembo recommendation, you can see what you could be offered for a mortgage by Skipton Building Society and other providers without applying.
Can I make overpayments on a Skipton Building Society mortgage?
Yes, you can make overpayments on a Skipton Building Society mortgage, but restrictions may apply. Check your mortgage illustration to see how much you are allowed to overpay by each year. You can usually repay a fixed percentage of your original loan balance per year without charge. Anything above the allotted amount could see you being hit by an Early Repayment Charge (ERC).
Skipton Building Society is a favourite among first-time buyers, thanks to their innovative 100% Track Record mortgage. They also offer some guarantor mortgages, and government-backed schemes like First Homes and shared ownership. However, whether they are right for you depends on your individual circumstances and affordability.
Andy Shead
Senior Mortgage Advisor at Tembo
Are Skipton Building Society a good lender?
As the 11th-largest mortgage lender in the UK, Skipton definitely punches above its weight. They were named a Which? Recommended Provider, with a high 78% customer score, as well as a 4.3 out of 5 rating on Trustpilot from over 15,000 reviews - way above some of the other high street lenders. They are also award-winning, scooping up Best National Building Society at the What Mortgage Awards 10 years running, as well as Best Overall Mortgage Lender award at the Personal Finance Awards 2022 and 2023.
They have made a name for themselves as a pioneer in the first-time buyer space, offering not only guarantor mortgages but also their innovative 100% mortgage and government schemes like shared ownership and First Homes. Across their general mortgage products, they offer competitive rates similar to other lenders.
Does Skipton Building Society offer guarantor mortgages?
Yes, Skipton Building Society offers guarantor mortgages in the form of their Joint Borrower Sole Proprietor (Income Boost) mortgage - they also accept gifted deposits. On top of these, Skipton also offers a range of first-time buyer mortgages to help the next generation get on the ladder, including their 100% Track Record Mortgage, 95% mortgages, as well as government schemes like First Homes and shared ownership.
It can be difficult to know which lenders offer guarantor mortgages and which one is best for you and your family as this depends on your unique affordability and what schemes you're eligible for. Working with a mortgage broker like Tembo who specialises in family-supported mortgages can help you navigate lenders' different eligibility criteria and find the best deal for you from across the market.
Looking for a new mortgage?
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Thinking of becoming a landlord? We can help you discover the best buy to let mortgage deal for you and how you could boost your mortgage affordability.
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The application process
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