Published 2nd May 2023, 05:45 BST

Mr Haire, who was previously CEO of Wealth and Personal Banking at HSBC UK, revealed the details following the society’s AGM last week. It comes as the Society’s 170th anniversary fell yesterday.

He said: “We will shortly be announcing a new product to help those trapped in expensive rents to get access to a mortgage. I feel very strongly that we can and should do more to support our members with this massive housing challenge, it links clearly to our founding purpose and why building societies exist.”

Mr Haire added: “As Skipton’s new Group Chief Executive, I’m looking forward to leveraging the Group’s structure, unique mix of businesses and, of course, our proud mutual status to be there during the moments that matter to our members.

Members of the Skipton Building Society marking the 170th anniversary of the organisation

"The Society’s performance last year casts no doubt on just how valued it is – with growth in member numbers, mortgage and savings balances.

“It is our Group platform that allows us to support members and customers in every stage of the homeowning process – saving, buying, protecting, greening, selling and investing.

“And already, I’m really pleased to see some of our profits being reinvested to do this.

"Earlier this year we announced we would give all our members a free EPC+ assessment and bespoke report, to help them on their journey to greening their homes and making them more energy efficient.”

Society chair Gwyn Burr said: “This year the Society will celebrate its 170th anniversary.

"On May 1, 1853, at an opening meeting in the old Skipton Town Hall - the Skipton and District Permanent Benefit Building Society was founded by George Kendall.

“The Society had a very clear purpose – to provide opportunities for ordinary people to buy their own homes.

"Since then, central to Skipton’s longevity and success has been our unwavering focus on making decisions that are in the long-term best interests of the business and our members.

"Balancing the needs of our savers and our borrowers, we have grown our business, prudently and sustainably, and as a mutual we will never chase profits at all costs to pay out to shareholders. Instead, any profits we make, are reinvested in our business and our colleagues, or saved for a rainy day.”

Last year Skipton made charitable donations of over £1.3m and introduced a commitment to donate 1 per cent of future Group profits to charities.

Skipton Building Society to launch new mortgage product to free 'trapped' renters