This was higher than the 44% of new mortgage lending that went to first-time buyers in 2024, and the group said this was achieved despite the “challenging economic backdrop” and “stop-start housing market”.
Stuart Haire, group chief executive of Skipton, said this goal was originally set to be achieved in 2028, representing over 26,000 new homeowners.
Further, its commitment to first-time buyers saw its market share in this segment expand to 4%, up from 3.8% previously.
Haire said: “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.
“Our diversified group model and mutual status mean we can invest for the long term, creating real value for members and society for now and for years to come. 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.”
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Its mortgage book grew by 7.9% to £33.3bn, slightly down on the 8.2% increase it saw the year before. Some 0.3% of its residential mortgage book was in arrears of three months or more, similar to the rate of 0.29% at the end of 2024 and below the market average of 0.78%.
Skipton Building Society closed the year with a pre-tax profit of £189.3m, lower than the profit of £209.9m seen in 2024. The group said the partial redemption of its permanent interest bearing shares reduced its profitability, as well as investment and increased its loan impairment.
Its net interest margin “remained resilient”, rising slightly from 1.28% in 2024 to 1.29% in 2025.
The group delivered a pre-tax profit of £275.2m, down from £318.6m the year before.
Haire added: “I am proud of the progress that our group has made towards achieving its strategy and purpose, and I would like to thank all Skipton Group colleagues for their commitment to continuously delivering for our members, customers, and wider society. At a time when more people are facing financial challenges, whether that’s buying a first home, saving and investing, or looking for trusted advice, Skipton Group has been there to help. We have remained focused on addressing these challenges, supporting members with our innovative products and advice, and influencing policy to drive purposeful change.
“Despite facing into continued economic uncertainty in 2026, our strength as a mutual and as a group means we can keep putting members first – investing in better experiences and supporting financial wellbeing for generations to come. I am confident that the power of our group will continue to make a meaningful difference, playing our part in building a more financially resilient society.”
