Skipton Group, proprietor of Skipton Constructing Society and the Connells property company group, has issued a report variety of mortgages to first-time consumers, pushing complete membership past 1.3 million. The group supported 26,000 first-time consumers, representing 50 % of all new mortgages issued final 12 months. It additionally expanded its saver base by returning over £195 million via above-market rates of interest on financial savings accounts.
Monetary Highlights
Earnings earlier than tax reached £275.2 million final 12 months, down from 2024 ranges. The mortgage ebook grew 7.9 % to exceed £33 billion, whereas buyer financial savings surpassed £30 billion for the primary time. Connells elevated its market share in a difficult property market, managing about one in ten UK house purchases and gross sales.
Report Assist for First-Time Patrons
First-time consumers accounted for a report 50 % of latest mortgages for main residences. “We helped over 26,000 first-time consumers, reaching a milestone initially set for 2028, and supplied over 64,000 free monetary recommendation conversations to our members,” mentioned Stuart Haire, group chief government.
“With housing affordability at its lowest level in 17 years, Skipton’s function has by no means been extra crucial in serving to tackle the challenges our members and clients face. We are going to hold innovating, from our Monitor Report Mortgage to our House Affordability Index, and influencing coverage to make homeownership extra achievable.”
Membership Development and Group Affect
Complete society membership rose to 1.32 million. The group contributed over £3 million to charity, fulfilling its dedication to donate 1 % of income.
Addressing the Affordability Disaster
Skipton’s House Affordability Index reveals regional variations in housing prices and underscores the continuing disaster for first-time consumers, together with 5 million adults within the UK dwelling with dad and mom as a result of unaffordable housing. Alongside different constructing societies, Skipton opposes current adjustments to money ISA limits introduced by Chancellor Rachel Reeves.
“We’re happy with our efficiency, while remaining centered on what issues most as a mutual: supporting our members and investing for the long run,” Haire added.
