For those looking to make their home in the heart of the UK or simply wanting to invest in a property, understanding the lending criteria is crucial. That’s where our comprehensive Skipton Lending Criteria Guide comes into play. Whether you’re a first-time buyer dreaming of a quaint cottage, a growing family in need of more space, or an investor searching for the next opportunity, Skipton Building Society’s requirements need not be a labyrinth anymore. This guide will shine a light on the essentials of Skipton’s lending criteria, offering clear insights and practical advice to ensure you can approach your mortgage application with confidence and clarity.

Skipton Building Society Contractor Mortgage Lending Criteria

Skipton Building Society is an excellent choice for contractors and self-employed individuals who are looking for a mortgage. The lender offers competitive rates and a range of products designed with contractors in mind. To qualify for a Skipton mortgage, there are a few criteria that need to be met.

The minimum deposit required is 25%. This is a fairly standard requirement for a mortgage in the UK. The maximum loan-to-value (LTV) is 75%, again, this is a fairly standard requirement. The minimum income requirement is £25,000 per year, with a minimum of 6 months contract in place. This is important to ensure that the applicant has the necessary funds to make their mortgage payments.Contractors must also provide their last three years’ accounts, PAYE statements or SA302. This is to ensure that the applicant has a good credit rating and a steady income. The maximum term is 25 years, and non-UK citizens may be accepted if they have been UK residents for more than 3 years. A minimum of 12 months rental income cover is required for an individual, or a minimum of 18 months for joint applications.

Overall, Skipton Building Society offers a range of products designed specifically for Skipton mortgages for contractors and self-employed individuals. These products come with competitive rates and a range of criteria that need to be met to qualify.

Skipton mortgages self-employed criteria

If you’re self-employed and looking for a mortgage as a contractor from Skipton, there are a few criteria you’ll need to meet. Firstly, you’ll need to have been trading for at least 12 months. Additionally, you’ll need an active business bank account which is solely in the name of the business. Furthermore, you’ll need to provide Skipton with accounts for the past two years as well as the most recent management accounts. Skipton may also ask for additional proof of income. Debt consolidation loans are not available to self-employed customers, and applications from sole traders, directors of limited companies, and partners in a partnership are not accepted.Therefore, it’s important to make sure you meet all of Skipton’s lending criteria before you apply for a loan. If you have any queries about the criteria, then it’s best to get in touch with Skipton directly to discuss your options.

Skipton mortgage criteria

Skipton is one of the leading providers of mortgage services in the UK, and they have their own lending criteria that must be met for successful mortgage applications. All applicants must meet the following criteria in order to be eligible for a Skipton mortgage:

  • All applicants must be aged 18 or over and be a UK resident
  • Applicants must have a good credit history with no County Court Judgements (CCJs) or bankruptcies
  • A minimum income of £25,000 is required for a single applicant or a combined income of £30,000 for joint applicants
  • All applicants must be employed and able to provide evidence of income
  • Customers must have a minimum deposit of 5% of the purchase price
  • All applicants must have a minimum of 6 months banking history in the UK.

By meeting these criteria, applicants will be in a good position to apply for a Skipton mortgage. Skipton’s lending criteria guide is an invaluable resource for anyone looking to apply for a mortgage, as it provides a clear overview of the requirements that must be met. For more information on the Skipton lending criteria guide, please visit their website.

Skipton intermediaries affordability calculator

The Skipton Lending Criteria Guide provides a comprehensive outline of the responsible lending criteria that must be met when assessing a client’s loan application. The guide outlines the minimum requirements that Skipton looks for when assessing a client’s application, such as minimum income and credit scores. It also outlines the affordability criteria that must be met when assessing a client’s loan application, such as their monthly income and expenditure.

To help intermediaries ensure that their clients are committing to a loan that they can comfortably afford to repay, Skipton has developed an Intermediaries Affordability Calculator. This calculator helps intermediaries to work out the maximum loan amount a client can afford, based on their income and expenses. By using the Skipton Intermediaries Affordability Calculator, intermediaries can ensure that their clients’ loan applications meet all of the criteria set out in the Skipton Lending Criteria Guide.

The Skipton Lending Criteria Guide is a valuable resource for intermediaries who are looking to process their clients’ loan applications in a responsible and compliant manner. By adhering to the criteria set out in the guide, intermediaries can help to ensure that their clients are taking out loans that they can comfortably afford to repay.


Skipton Building Society is dedicated to helping people become homeowners and their Lending Criteria Guide sets out the requirements for mortgages, loans and other lending products. All elements of the lending process are covered in the guide, from deposit requirements to income and credit score requirements, as well as criteria for buy-to-let mortgages, self-employed mortgages and more.

Skipton are passionate about providing the best service and lending experience to their customers, and the Lending Criteria Guide is regularly updated to ensure that it remains up-to-date with the ever-changing mortgage market.

The guide is designed to make the process of applying for a mortgage as easy as possible, ensuring that customers have all the information they need to make an informed decision. With Skipton’s Lending Criteria Guide, customers can make an informed decision and have confidence that they are taking the right steps to becoming homeowners.

Skipton Mortgages for Contractor with Earnings => £50k

Skipton Building Society offers contractors the opportunity to apply for a mortgage with their flexible lending criteria. If you are a contractor earning £50k or more, you may be eligible for a mortgage with Skipton. They recognise the fluctuation in your income and take into account your last few years’ earnings when calculating your average annual income.

To be eligible for a mortgage with Skipton, you must have a minimum earning of £100k over a two year period. All applications are subject to credit reference agency and identity checks and you must have held your contract for a minimum of 12 months with a minimum of three years’ contracting experience. Your contract must have a minimum of six months remaining at the end of the mortgage term. Skipton will also take into account any additional income you receive from other sources, such as freelance or consultancy work.

If you are a contractor looking for a mortgage, Skipton’s lending criteria guide is a great way to find out if you are eligible. With their flexible lending criteria, they can offer the best possible solution for your specific circumstances.

Skipton Mortgages for Contractors With Earnings less than £50k

Skipton Building Society offers a range of mortgage products to suit a variety of customers. For those with contractor earnings, the lender has specific criteria that must be met to apply for a mortgage.

For contractor earnings of less than £50,000, Skipton will assess cases on a case-by-case basis. All contractor incomes must be evidenced by a contract and the most recent three months payslips. Contractor earnings must also be consistent over the last three years, and any gaps must be satisfactorily explained.

Skipton will consider contractor earnings from a variety of sources, including self-employment, Limited Companies, umbrella companies, and agencies. Contractors must have been in the same occupation for the last three years, and where possible, contractor earnings must be confirmed by the contractor’s accountant.

Adhering to these criteria will ensure that potential borrowers have the best chance of having their applications approved. Skipton’s Lending Criteria Guide offers detailed information about the requirements for contractor earnings, and is a valuable resource for anyone considering applying for a mortgage with the lender.

Skipton Mortgages for Locum Medical Professionals, Supply Teachers, Construction Industry Scheme (CIS) Workers and Zero Hours Contracts

The Skipton Lending Criteria outlines the necessary requirements for applicants in various professions looking to borrow money. For locum medical professionals, the guide requires proof of income, such as contracts, payslips, or bank statements. Similarly, for supply teachers, the guide requires the same documentation.

For those in the construction industry on the Construction Industry Scheme (CIS), the guide requires proof of CIS status, such as a copy of the CIS card, a registration letter, or payslips. Finally, the guide requires proof of income for those on zero-hours contracts, such as contracts, payslips, or bank statements.

The Skipton Lending Criteria ensures that applicants have all the documentation required to secure a loan. Every applicant must meet the criteria outlined in the guide to ensure a successful loan application.

Mortgage and Secured credit Arrears

Skipton is a trusted and contractor-friendly lender in the UK, and the company’s lending criteria guide outlines their policies for mortgage and secured loan arrears. Skipton will consider applicants with arrears of up to two months if they have not been caused by deliberate non-payment. If an applicant has been in arrears for more than two months, Skipton may still consider them, provided they have a suitable repayment plan in place.

In order to qualify for a loan with Skipton, applicants must have a good credit history, and must not have had any other mortgage or secured loan arrears in the past. Skipton also requires applicants to provide an explanation for the cause of the arrears, as well as evidence of steps they have taken to address the situation.

When assessing an applicant’s eligibility for a loan, Skipton will take into account a variety of factors. These include the amount of arrears, the length of time since the arrears occurred, and any repayment plan in place. With this in mind, Skipton can make an informed decision as to whether or not an applicant is suitable for a loan.

Credit limits

When it comes to borrowing money, the most important thing to consider is credit limits. Credit limits are the maximum amount of money that can be loaned to a customer, and they help protect against over-borrowing. A customer’s credit limit is determined by assessing their affordability and creditworthiness, and this is where the Skipton Lending Criteria Guide comes in.

The Skipton Lending Criteria Guide outlines the criteria used to set credit limits, such as income, expenditure, credit history, and asset information. It is designed to ensure that customers do not take on more debt than they can afford to repay. Credit limits are regularly reviewed to ensure that customers are not taking on more debt than they can manage.

By understanding and following the Skipton Lending Criteria Guide, borrowers can be sure that they are receiving the correct credit limit for their situation. This will help them to manage their borrowing responsibly and ensure that they are never in a position where they are unable to pay back their debt.

Variable Income

When applying for a mortgage with Skipton Building Society mortgages , it’s important to consider their Lending Criteria Guide. A key point within this guide is their attitude towards variable income. Variable income is income that changes from month to month, such as bonus payments or commission, and Skipton Building Society will consider this when assessing a mortgage application.

In order to take advantage of this, all sources and amounts of variable income must be declared on the application, along with details of when the income is paid and how often. It is also important to note that the variable income must be from a reputable source such as an employer or government agency and must be verifiable.

When assessing the mortgage application, Skipton Building Society will consider the amount and frequency of the variable income. It is important to remember this when applying for a mortgage, as it can make a big difference to the outcome.

UK nationals working overseas

Whether you’re a UK national living and working abroad, or you’re looking to move abroad in the near future, Skipton’s Lending Criteria Guide can provide invaluable assistance when it comes to applying for a mortgage.

When applying for a mortgage while overseas, UK nationals must provide certain documents, such as proof of income and residency. However, UK nationals living and working abroad may not always be able to provide certain documents that are typically required for a mortgage application.

Skipton’s Lending Criteria Guide is designed to help UK nationals living and working overseas understand how they can provide alternative evidence of their income and residency. This guide offers valuable insight and advice into the requirements for UK nationals applying for a mortgage while living and working overseas.

What’s more, Skipton acknowledges that UK nationals living and working abroad may have a unique set of circumstances which need to be taken into account when assessing their mortgage application. The guide offers detailed advice on how UK nationals can successfully apply for a mortgage when they are living and working abroad.

If you are looking to apply for a mortgage when living and working abroad, Skipton’s Lending Criteria Guide is an essential resource to help you understand what is required and how to provide the necessary evidence.

Contractor With Earnings less than £50k

Skipton offers straightforward and clear lending criteria for contractors earning less than £50k. To be eligible for a mortgage contractors must have at least six months’ experience in their current role, and have worked in a contract position for at least three months. Additionally, evidence must be provided that their earnings are consistent and that their income is unlikely to drop below £50k in the foreseeable future.

For self-employed contractors, Skipton requires either a set of their most recent accounts or evidence of their income from HMRC. As well as this, evidence of the contractor’s credit history, such as a credit report, is also needed for Skipton to assess their suitability for a loan. Further information may be required, such as details of other loans that the contractor has taken out, or any other debts they may have.