Latest news with #SkiptonGroup
North Wales Live
07-08-2025
- Business
- North Wales Live
More women now likely to buy homes on their own than with a partner, study shows
An increasing number of women are aiming to purchase a home on their own, rather than with a partner, according to recent research. The study discovered that 37 per cent of women plan to step onto the property ladder independently, compared to 35 per cent who intend to buy with a partner, with an impressive nine out of ten women viewing it as vital to achieve this milestone alone. Financial security is a primary motivator for four in ten women, while one-third expressed a desire not to depend on a partner for life progression. Data from Skipton Building Society suggests that women are more inclined to go solo when purchasing a home than men. In 2024, it processed 11.5 per cent more mortgage applications from single female buyers than male, and so far in 2025, it has seen nearly seven per cent more individual applications from women than men. However, despite these aspirations, saving for a deposit on a single income can be a formidable challenge, with 36 per cent struggling to find a suitable property within their budget and preferred location. Other potential buyers are concerned about managing additional costs like legal fees and surveys without the financial support of a partner. A third also worry about whether they'll secure mortgage approval without a second income. The study was sponsored by Skipton Building Society to promote its Track Record Mortgage scheme, which evaluates potential homebuyers based on their rent payment history instead of a conventional deposit. Jen Lloyd, the society's head of mortgage products and proposition, explained: "While solo buyers are incredibly motivated, they face a disproportionate number of barriers. The challenges are significant and too often overlooked." She continued: "The risks and pressures of buying alone can feel amplified, but that shouldn't prevent people from pursuing this path. It's clear there's demand for more flexible, accessible products tailored to today's buyers." Aneisha Beveridge, head of research at Hamptons - which forms part of the Skipton Group - added: "The rise in solo homeownership is closely tied to shifting life milestones." "With more people going to university, many are renting for longer and delaying homeownership until they're settled in a stable job and location." At present, individuals saving independently for a home have an average of £9,420 put away for a deposit, yet they estimate needing around £27,414 to step onto the property ladder. The survey of 1,000 women indicated on average they will need another five years before they can afford to purchase their own home. Jen Lloyd added: "As a building society founded on fairness, we believe in designing solutions that reflect how people actually live. That's why we created our Track Record Mortgage – to help renters who are financially ready but locked out by traditional deposit requirements." Over half are concerned about the potential financial burden if their income were to change without warning, and 46 per cent worry about bearing the cost of unexpected repairs. Two-thirds of respondents feel that more should be done to encourage and assist individuals buying on their own, suggesting that support schemes and mortgages designed specifically for them would be beneficial.
Daily Mirror
07-08-2025
- Business
- Daily Mirror
Skipton's no-deposit mortgage targets growing number of women buying homes alone
New research from Skipton Building Society shows the number of women looking to buy a property alone is now more than those intending to buy with a partner - and their new mortgage could make it easier. More women are planning to buy a home on their own rather than with a partner, according to new research. It was reported that 37 per cent of women intend to buy a property independently, compared to 35 per cent who plan to buy with a partner, with nine out of ten women considering it important to achieve this milestone on their own. Four in ten cited the need to feel financially secure in their own right, while a third expressed a desire not to rely on a partner to progress in life. While many are motivated by the pursuit of independence, 41 per cent added that they wanted full control over decisions like where to live. Data from Skipton Building Society also indicates that women are more likely to buy solo than men. In 2024, it processed 11.5 per cent more mortgage applications from women buying alone than men and so far in 2025, it has received nearly seven per cent more solo applications from women than men. It comes after a state pension warning for millions of Brits who are between two specific ages. Martin Lewis warns 'nothing to do with me' after complaints from money savers. However, despite these intentions, saving for a deposit on a single income can be a challenging task, with 36 per cent struggling to find a suitable property within their budget and preferred location. Other potential buyers are worried about paying for additional legal fees and surveys without financial support from a partner. Meanwhile, a third are also concerned about whether they will be approved for a mortgage without a second income. The study was commissioned by Skipton Building Society to promote its Track Record Mortgage, which evaluates an applicant's rental payment history to determine affordability – eliminating the need for a deposit. Its head of mortgage products and proposition, Jen Lloyd, said: "While solo buyers are incredibly motivated, they face a disproportionate number of barriers. The challenges are significant and too often overlooked. "The risks and pressures of buying alone can feel amplified, but that shouldn't prevent people from pursuing this path. It's clear there's demand for more flexible, accessible products tailored to today's buyers." Aneisha Beveridge, head of research at Hamptons, which is part of the Skipton Group, added: "The rise in solo homeownership is closely tied to shifting life milestones." "With more people going to university, many are renting for longer and delaying homeownership until they're settled in a stable job and location." Aneisha added: "At the same time, marriage and parenthood are happening later in life, meaning more people are buying homes alone rather than as couples." On average, those women saving for a home currently have £9,420 for a deposit but estimate they will need around £27,414 to get on the property ladder. Jen Lloyd added: "As a building society founded on fairness, we believe in designing solutions that reflect how people actually live. That's why we created our Track Record Mortgage – to help renters who are financially ready but locked out by traditional deposit requirements. "We also need to do more to raise awareness of existing support, so solo buyers feel seen, supported, and confident in their homeownership journey." A staggering 82 per cent are aware of the risks in buying a home alone. More than half worry about the financial strain if their income was to change unexpectedly, and 46 per cent are concerned about being responsible for unforeseen repair costs. Two thirds believe more should be done to encourage and support solo buyers and say support schemes and better tailored mortgage products would be helpful.
Wales Online
10-07-2025
- Business
- Wales Online
The hardest place to buy a house in Wales where the average price is £257,318
The hardest place to buy a house in Wales where the average price is £257,318 House prices across Wales have risen sharply, but local wages haven't kept up Colourful houses in Aberaeron, Ceredigion (Image: Getty ) You have probably noticed that property prices have soared over recent years, which might be good news to some home owners, but makes things slightly tricky if you're a first time buyer. Wales is also now home to some of the least affordable places in the UK for first-time buyers, with five Welsh areas appearing in the top ten hardest places to get on the property ladder according to the Skipton Group Home Affordability Index 2025. In Ceredigion and Powys, only 2.7% of people can afford the average first-time buyer home which is even less than in parts of London. Affordability is also proving to be a widespread issue across both rural and urban parts of Wales with Cardiff, the Vale of Glamorgan, and Monmouthshire also featuring on the list. This is significant because house prices in Wales have risen sharply, but local wages haven't kept up. Love dreamy Welsh homes? Sign up to our newsletter here As a result, many people who live and work in these areas will likely be priced out of their own communities. In Ceredigion, house prices have sold for an overall average of £257,318 over the last year. Article continues below Currently, there is a 25% extra charge on top of the normal level of council tax for second homes and long-term empty properties in the county, which locals have said for many years has been a recurring problem. And in 2023, Ceredigion County Council consulted with residents and stakeholders on what level of council tax premiums should be charged on long-term empty properties and second homes in Ceredigion. However, it was found that 'increasing Council Tax premiums would not result in the desired outcomes' was a prevalent theme throughout the comments. Just over half of these comments noted that an increase would not improve the availability or affordability of homes according to the council. And in Powys, houses have sold for an overall average of £273,537 over the last year according to Rightmove. It was described as "virtually impossible" in 2021 for first time buyers to purchase a property here, and judging by the data it looks as though little has shifted. The Powys County Times reported: 'Plaid Cymru councillor for Glantwymyn Elwyn Vaughan noted that issues such as rising second-home ownership in Mid-Wales beauty spots are making it virtually impossible for first time buyers from Powys to own their own home, after new figures provided by HM Land Registry and the Office for National Statistics showed the average property price in the county is now £206,656, a huge 8.2 times greater than the average median salary of £25,197.' The Home Affordability Index notes: 'First-time buyers face a particularly challenging situation, with only 11.5% of potential first-time buyers able to afford to get onto the property ladder based on their own financial situation, and in certain local authority areas the challenge is far more acute. 'The Home Affordability Index shows that upcoming reforms to first-time buyer stamp duty relief and the continued freezing of LISA thresholds are limiting the ability of first-time buyers to benefit from these policies. 'This report provides important new analysis that can help shape the policy debate around the design of these policies.' Support available for first-time buyers in Wales The Help to Buy Wales scheme serves as a valuable support option, providing an equity loan of up to 20% of the cost of new-build homes priced up to £300,000. The Tai Teg scheme also aims to increase access to affordable housing, including properties available for purchase, and may offer help with buying homes on the open market. Another useful option is a Lifetime ISA (LISA) which is a government-backed savings account designed to help first-time buyers save for a home. You can deposit up to £4,000 each year and the government adds a 25% bonus on top - up to £1,000 annually. The funds including the bonus can be used towards the purchase of your first home worth up to £450,000. Have you got a story you want to share about buying your first home in Wales? Feel free to get in touch: Article continues below
Leader Live
12-06-2025
- Business
- Leader Live
Homeowners favour kitchens and bathrooms over eco upgrades
The study of 2,000 property owners found more than half are prioritising cosmetic makeovers because they believe it adds more value and offers instant gratification. Many would rather splash out on a new kitchen (48 per cent) or bathroom suite (39 per cent) than invest in insulation (19 per cent) or energy-efficient heating systems (31 per cent). And 43 per cent admit they opt for these flashy upgrades simply because they want something new to enjoy – with 16 per cent confessing they just love the thrill of a fresh home feature. (Image: Skipton Building Society) While 53 per cent said energy-efficient improvements just don't give them the same buzz as a swanky new renovation. The research, commissioned by Skipton Building Society, part of the Skipton Group, coincides with the release of The Big Retrofit report, which follows the energy efficiency transformation of a previously fossil-fuel reliant home. The report, developed with Leeds Beckett University and the University of Leeds, reveals how the retrofit of a typical 1930s detached home – featuring triple glazing, solar panels and an air source heat pump – cut carbon emissions, improved comfort, and boosted the home's EPC rating from D to B. Phil Spencer, TV star, property expert and Move iQ founder, said: 'It's easy to get caught up in choosing statement tiles or bold paint colours, but the most valuable home improvements aren't always the most Instagrammable. 'Green upgrades not only save money in the long run, but they can also boost comfort, value and sustainability, all without spoiling the look of your home.' But it seems a new kind of 'keeping up with the Joneses' is sweeping through Britain's streets and cul-de-sacs – and this time, it's all about going green. More than a quarter (28 per cent) now say they know a neighbour who's made big low carbon technology or energy efficiency related changes to their home – and 53 per cent of these have been inspired to follow suit. As a result, 48 per cent have looked into getting solar panels, 24 per cent have explored upgrading their loft insulation – and 15 per cent would consider installing triple glazed windows. For 38 per cent, it was hearing their neighbours had managed to cut their energy bills that got them interested. Another 36 per cent said seeing what was actually possible gave them a lightbulb moment, while 30 per cent felt more confident after seeing the results up close. Almost half (47 per cent) of all homeowners now reckon making eco improvements has become a modern-day status symbol, according to the research conducted by OnePoll. Charging an electric car on the drive is seen as one of the leading signs you've 'made it' (32 per cent) – followed by underfloor heating powered by renewables (28 per cent) and having a heat pump (25 per cent). Michaela Wright, head of group sustainability at Skipton Building Society added: 'This research suggests we may be seeing a shift from 'keeping up with the Joneses' to 'greening up with the Jones'. 'As more people see their neighbours investing in greener technologies, it naturally sparks curiosity and motivation to do the same. 'There's something powerful about seeing these changes up close – it makes the benefits feel more real and achievable. 'The idea of a modern status symbol is evolving, and now things like solar panels, heat pumps and electric cars are part of that. 'It's a positive sign that more energy efficient choices are becoming aspirational, not just practical. 'We understand that making energy-efficient home improvements might not be at the top of everyone's priority list. 'That's why we took on the journey ourselves – to help demystify the retrofit process through The Big Retrofit project. 'We've documented our experience and created a series of resources, to support others who are considering making similar improvements.'
Glasgow Times
12-06-2025
- Business
- Glasgow Times
Homeowners favour kitchens and bathrooms over eco upgrades
The study of 2,000 property owners found more than half are prioritising cosmetic makeovers because they believe it adds more value and offers instant gratification. Many would rather splash out on a new kitchen (48 per cent) or bathroom suite (39 per cent) than invest in insulation (19 per cent) or energy-efficient heating systems (31 per cent). And 43 per cent admit they opt for these flashy upgrades simply because they want something new to enjoy – with 16 per cent confessing they just love the thrill of a fresh home feature. (Image: Skipton Building Society) While 53 per cent said energy-efficient improvements just don't give them the same buzz as a swanky new renovation. The research, commissioned by Skipton Building Society, part of the Skipton Group, coincides with the release of The Big Retrofit report, which follows the energy efficiency transformation of a previously fossil-fuel reliant home. The report, developed with Leeds Beckett University and the University of Leeds, reveals how the retrofit of a typical 1930s detached home – featuring triple glazing, solar panels and an air source heat pump – cut carbon emissions, improved comfort, and boosted the home's EPC rating from D to B. Phil Spencer, TV star, property expert and Move iQ founder, said: 'It's easy to get caught up in choosing statement tiles or bold paint colours, but the most valuable home improvements aren't always the most Instagrammable. 'Green upgrades not only save money in the long run, but they can also boost comfort, value and sustainability, all without spoiling the look of your home.' But it seems a new kind of 'keeping up with the Joneses' is sweeping through Britain's streets and cul-de-sacs – and this time, it's all about going green. More than a quarter (28 per cent) now say they know a neighbour who's made big low carbon technology or energy efficiency related changes to their home – and 53 per cent of these have been inspired to follow suit. As a result, 48 per cent have looked into getting solar panels, 24 per cent have explored upgrading their loft insulation – and 15 per cent would consider installing triple glazed windows. For 38 per cent, it was hearing their neighbours had managed to cut their energy bills that got them interested. Another 36 per cent said seeing what was actually possible gave them a lightbulb moment, while 30 per cent felt more confident after seeing the results up close. Almost half (47 per cent) of all homeowners now reckon making eco improvements has become a modern-day status symbol, according to the research conducted by OnePoll. Charging an electric car on the drive is seen as one of the leading signs you've 'made it' (32 per cent) – followed by underfloor heating powered by renewables (28 per cent) and having a heat pump (25 per cent). Michaela Wright, head of group sustainability at Skipton Building Society added: 'This research suggests we may be seeing a shift from 'keeping up with the Joneses' to 'greening up with the Jones'. 'As more people see their neighbours investing in greener technologies, it naturally sparks curiosity and motivation to do the same. 'There's something powerful about seeing these changes up close – it makes the benefits feel more real and achievable. 'The idea of a modern status symbol is evolving, and now things like solar panels, heat pumps and electric cars are part of that. 'It's a positive sign that more energy efficient choices are becoming aspirational, not just practical. 'We understand that making energy-efficient home improvements might not be at the top of everyone's priority list. 'That's why we took on the journey ourselves – to help demystify the retrofit process through The Big Retrofit project. 'We've documented our experience and created a series of resources, to support others who are considering making similar improvements.'
