𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Skipton Group, which owns Skipton Building Society and the Connells estate agency group, has handed a record numbers of mortgages to first time buyers and seen their total members number swell past 1.3m.

The building society aided 26,000 first-time buyers in getting on the property ladder, accounting for 50 per cent of all new mortgages handed out across the year, while growing its saver base by returning more than £195m, by way of paying above-market interest rates on savings accounts.

It came as the group posted profits before tax of £275.2m for last year, a drop from 2024, with the mutual’s mortgage book showing slightly slowed growth of 7.9 per cent to more than £33bn. Customers savings in Skipton also pushing the total held past £30bn for the first time.

Connells was also able to grow market share despite a difficult property market, the report said, handling around one in ten of all UK home purchases and sales in total.

“We are pleased with our performance, whilst remaining focused on what matters most as a mutual: supporting our members and investing for the long term,” Stuart Haire, group chief executive, said.

The group say they while first time buyers accounted for a record 50 per cent of new mortgages going to those purchasing a first home.

“We helped over 26,000 first-time buyers, achieving a milestone we originally set for 2028 and provided over 64,000 free financial advice conversations to our members,” Mr Haire continued. “With housing affordability at its lowest point in 17 years, Skipton’s role has never been more critical in helping address the challenges our members and customers face. We will keep innovating, from our Track Record Mortgage to our Home Affordability Index, and influencing policy to make homeownership more achievable.”

Total society membership continued to grow to 1.32m, while over £3m was contributed to charity in line with an ongoing commitment to donate 1 per cent of profits.

Skipton’s housing affordability index breaks down where people are able to buy houses and live most affordably, based on region across the nation.

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The group says it continues to highlight an ongoing “affordability crisis for first-time buyers, including the five million adults stuck living with parents in the UK” who cannot afford to move to a property of their own.

Alongside other building societies, Skipton has opposed the changes to cash ISA limits, announced by Rachel Reeves in November’s Budget.