Homeownership is more affordable than you think.

Mortgage Illustrations

Buying a home is without a doubt one of the biggest financial decisions that you will ever make, but it’s also one of the most rewarding too.

Whether you’re a first-time buyer, downsizer, or looking to take the leap from renting to owning your own, buying new usually brings much lower living costs making it a sensible and achievable option.

And, with a 5% deposit contribution on many of our homes on us, you’ll only need to find 5% to make your dream move.

Below are some examples of current mortgage rates on various loans, showing just how affordable homeownership can be:

Property price£175,000£200,000£225,000
10% Deposit£17,500£20,000£22,500

*The above quotations are based on a 35 year term and are subject to change. Rates are initially fixed for 2 years. The loan will then be 0.55% below the Standard Variable Rate for 5 years and thereafter, Skipton Building Society’s Standard Variable Rate will apply for the remaining term of the mortgage.

Duration of the loan: 35 years

This illustration is based on a mortgage loan for a property purchase.

Repayment Method: Capital repayment

This illustration is provided by Skipton Building Society.

F8441 Fixed 2 Year 5.81% then RMVR -0.55% until 5 years after the original mortgage start date & then RMVR for term 90% LTV mortgage.

Step 1 of your mortgage is a fixed interest rate of 5.81% that will apply from completion until 28 February 2026.

Step 2 of your mortgage product starts after 28 February 2026, and the rate that will apply is 0.55% below the Standard Variable Rate, currently 6.79%, until 28 February 2031, to give a current rate payable of 6.24%.

Step 3 of your mortgage product starts after 28 February 2031, and the rate that will apply is Skipton Building Society's Standard Variable Rate, currently 6.79% for the remaining term of the mortgage.

If the Bank of England Base rate changes, the lender will review the interest rate applicable to your mortgage on the first working day of the following month. Skipton Building Society will then notify you in writing of your new interest rate and payment, which will take into effect from the first day of the month following the review. Skipton Building Society will follow this procedure whether the Bank of England Base Rate rises or falls.

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Find out how much you could spend on a new home with our clever mortgage calculator.

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