The Intermediary – July 2026 - Flipbook - Page 24
FIRST-TIME BUYERS
In focus
Finding a way
to say yes
G
eing onto the
property ladder is only
geing harder. House
prices have been
rising. So has rent.
It’s no surprise,
then, that 73% of aspiring
homeowners say they feel locked out,
according to our own research. Nearly
half say high rent is what’s holding
them back from saving.
It leaves people stuck – paying more
each month, but feeling no closer
to owning their own home. This is
starting to take its toll, as 68% say they
feel like their life is on hold while they
try to save for a deposit and keep up
with rent.
That can mean missing out on
holidays (49%), or puing off big
life moments like geing married or
starting a family (20%). And for many,
it’s affecting more than just their plans
– 43% say it’s had a negative impact on
their mental health.
Because we lead the Skipton Group,
we have access to rich housing market
insights from organisations like
Connells – where the scale of the task
really hits home.
Today, the average first-time
buyer (FTB) deposit is £41,403, with
homes they’re buying costing around
£243,883. But if you’re only able to
save £100 a month or less – like nearly
one in three renters – it could take
around 35 years to get there.
and it’s led to new ways to think
about affordability.
Take renters who feel locked out. If
they’ve been paying their rent on time,
month aer month, why shouldn’t
that count?
It’s this kind of thinking –
recognising real-world financial
behaviour – that’s led to approaches
like our Track Record mortgage,
which looks at a customer’s history of
paying rent as part of the picture.
We’ve seen how much that resonates
with brokers and their clients. Just
as importantly, it’s something that
continues to evolve – shaped by
feedback and changing needs.
Turning insight into action
Let’s find a way
As the UK’s fourth-largest building
society, we know we can play a
meaningful role in helping brokers
support first-time buyers through
these challenges. Last year alone, we
helped 26,000 first-time buyers take
that first step.
What’s clear is that this isn’t about
one answer. It’s about looking at
affordability differently.
We’ve spent a lot of time listening
to brokers, members, and the real
challenges first-time buyers face,
It’s not just about innovation – it’s
about people. Every client is different.
And they rely on brokers to find the
right way forward.
That’s why having a lender who
takes a pragmatic, common-sense
approach maers. One that’s willing
to look at the full picture, not just a set
of rigid criteria.
Because in practice, supporting
brokers oen comes down to the
basics – clear answers, consistent
decisions, and the ability to have real
22
The Intermediary | July 2026
More ways to make it work
It’s not just one approach that will
make the difference.
We’re also seeing a growing need for
more flexible ways to reflect how
people actually buy homes today –
whether that’s support from family,
combining incomes, or recognising
different financial set-ups.
And oen, it’s not about big
step-changes alone. It’s the smaller,
practical improvements that can
make a real difference: from adapting
criteria to increasing flexibility in how
cases are assessed.
Individually, these shis might
seem incremental. But together, they
start to open doors for people who
simply need a different way forward.
EMMA JAGGAR
is senior mortgage product
manager at Skipton
Building Society
conversations about cases. For us, that
thinking is simple: let’s find a way. We
focus on these things because you’ve
told us they maer.
Through forums like Skipton
Listens, we hear what’s working,
what’s not, and where support is
needed. That feedback doesn’t sit
still – it helps shape how we approach
lending and where we focus next.
It also feeds into the wider role we
can play within the sector.
Whether that’s publicly pushing
policymakers and politicians for fairer
affordability rules, or sharing insights
through our Skipton Group Home
Affordability Index, we’re constantly
working to move things forward.
Breaking through the barrier
Ultimately, it all comes back to a
shared frustration – the glass ceiling
first-time buyers keep hiing.
Our most recent Skipton Group
Home Affordability Index found that,
today, the average first-time buyer in
England is 34. Back in the mid-90s,
this figure was 29.
Research also revealed that fewer
young people are geing on the ladder
at all. Around one in four buyers in
England used to be under 25. Now it’s
closer to one in 15.
But there are signs of progress. The
first-time buyer market has grown
by nearly 40% since 2008/09, and we
expect that to continue – even with the
ongoing cost of living pressures.
So while the barriers are real, it
doesn’t have to be out of reach.
We all have a role to play in helping
more people buy their first home.
By continuing to adapt, listen, and
think differently, there are more
ways to support brokers – and
more opportunities to say yes to
their clients. ●
