Skipton Building Society has expanded its mortgage range for new build buyers, offering 95% loan to value products across a wider selection of options, including base rate trackers, fee variants and cashback choices.
The move follows rising interest in newly built homes, with Skipton aiming to give buyers more flexibility at higher loan to value ratios as affordability pressures continue to shape the market.
NEW BUILD DEMAND GROWS
Research commissioned by Skipton shows a marked change in buyer preferences. The study found that almost half of those hoping to purchase a home are considering a new build, compared with fewer than one in three looking at older stock.
The poll of 1,000 prospective buyers, carried out by OnePoll, suggests that modern specifications and ease of purchase are key drivers. Many of those surveyed cited contemporary features and the appeal of a simpler transaction without a property chain.
Sustainability is also playing a growing role. More than half of respondents said they would be more likely to choose a new build if it included environmentally focused additions such as solar panels or electric vehicle charging points.
BUYER PRIORITIES SHIFT
The findings reflect a consumer landscape in which energy efficiency, convenience and upfront certainty are increasingly influencing buying decisions. Skipton said its broadened product range was intended to support buyers seeking modern, move-in ready homes.
Jen Lloyd, head of mortgage products and proposition at Skipton Building Society, said: “We’re seeing a real change in what people want from their homes. While older properties still have their charm, more buyers are now drawn to the ease, energy efficiency and ready-to-move-in appeal of new builds.
“Our enhanced product range gives these buyers more choice and flexibility — because everyone deserves a fair chance to own a home that fits their life.”
AFFORDABILITY PRESSURES
Skipton’s latest Home Affordability Index illustrates the scale of the challenge facing many first-time buyers. According to the lender, only 11.5% of prospective first-time purchasers can afford a home in their area, while almost all young adults living with parents are unable to buy the average first-time buyer property locally.
These figures reinforce concerns about accessibility and underline the need for lenders to offer products tailored to constrained budgets and high demand for energy-efficient stock.
Lloyd added: “Buying your first home should be exciting — not overwhelming. We’re committed to widening access and supporting buyers who are trying to take that first step.”
