Company Overview
Skipton Building Society is one of the UK's oldest and largest building societies, founded in 1853 with a rich heritage of serving its members for over 170 years. Based in the Yorkshire Dales market town of Skipton, the society has grown to become one of the most trusted names in mutual banking while maintaining its core values of putting members first.
Key Highlights
- Founded in 1853, making it one of UK's oldest financial institutions
- One of the top 5 largest building societies in the UK
- Over 1 million members across savings and mortgage products
- Strong Yorkshire heritage with national presence
- Award-winning customer service and financial strength
Traditional Values, Modern Solutions
Skipton Building Society combines over 170 years of heritage and traditional mutual values with innovative modern banking solutions and technology.
Mortgage Products
Residential Mortgages
- Fixed-rate mortgages (2, 3, 5, and 10-year terms)
- Tracker mortgages following Bank of England base rate
- First-time buyer mortgages with low deposit options
- Help to Buy equity loan mortgages
- Shared ownership mortgages
- Remortgage products with competitive rates
- Green mortgages for energy-efficient properties
Specialist Products
- Track Record mortgages for credit-impaired borrowers
- Self-build mortgages
- Buy-to-let mortgages
- Holiday home mortgages
- Retirement interest-only mortgages
170+ Years Heritage
Rich history and experience in UK banking
Financial Strength
Strong reserves and conservative lending approach
Member Focus
Mutual society owned by its members
Specialist Lending
Unique products for complex situations
Key Features & Benefits
Building Society Advantages
- Member ownership providing focus on customer benefit
- Competitive mortgage rates with transparent pricing
- Specialist lending expertise including Track Record mortgages
- Long-term stability with strong financial reserves
- Personal service with human underwriting approach
- Yorkshire heritage with national reach
Specialist Lending Expertise
- Track Record mortgages for borrowers with credit issues
- Self-build lending with staged payments
- Complex income assessment for self-employed
- Manual underwriting for unusual circumstances
- Retirement mortgage solutions
- Commercial and investment property lending
Advantages
- Over 170 years of proven stability
- Specialist lending expertise
- Member-focused mutual structure
- Strong financial position and reserves
- Human underwriting approach
- Competitive rates and transparent fees
Considerations
- Smaller branch network than major banks
- Some products have limited availability
- Processing may take longer for complex cases
- Less international banking capability
- Regional focus may limit some services
Lending Criteria
Eligibility Requirements
- Age: 18-75 years at application, maximum age 85 at end of term
- Income: Minimum £20,000 per annum for residential mortgages
- Employment: Employed, self-employed, or retired with proof of income
- Residency: UK residents with at least 3 years UK address history
- Deposit: Minimum 5% for residential, 25% for buy-to-let
Assessment Criteria
- Maximum loan-to-income ratio of 4.49 times annual income
- Comprehensive affordability assessment with manual underwriting
- Credit score evaluation with consideration for adverse credit
- Stress testing at current rate plus 3% buffer
- Property valuation and location assessment
- Individual assessment for complex or unusual circumstances