The Intermediary – July 2026 - Flipbook - Page 22
In Profile.
Q&A
Jessica O’Connor speaks with Martese Carton, director
of mortgage distribution at Leeds Building Society,
about first-time buyer resilience and widening access
to homeownership
I
Breaking down barriers
n a housing market where affordability
While motivation remains high, Carton is under
pressures continue to dominate headlines,
no illusion about the challenges facing aspiring
first-time buyers (FTBs) have every reason
homeowners. If there is one obstacle that
to feel discouraged. Rising house prices
continues to dominate, she says, it is raising a
and higher borrowing costs have combined
deposit. For many buyers, saving while paying rent
to create one of the most difficult environments
has become an increasingly difficult balancing act.
for aspiring homeowners in recent memory. Yet
Carton explains: “House prices have
despite those barriers, demand has remained
continued to outpace earnings in many areas.
remarkably resilient. For Martese Carton,
No sooner have you saved up your deposit,
director of mortgage distribution at
but you’re going to look for a property and
Leeds Building Society, that resilience
the prices have gone up, so you need to
reflects something more fundamental
save a little bit more.”
than market conditions alone. While
Rather than relying on a single solution
affordability continues to shape
to this issue, Leeds Building Society has
borrowing decisions, she believes the
focused on evolving its proposition over
aspiration to own a home remains as
time, widening access while responding to
strong as ever.
the barriers that borrowers face.
The Intermediary sat down with Carton
“We’ve continually evolved our proposition,”
to discuss the resilience of the first-time
buyer market and why collaboration between MARTESE CARTON Carton says. “Customer needs have changed
and we’ve tried to reflect that in our products.”
lenders, brokers and policymakers is
essential in supporting the next generation
Innovation with responsibility
of homeowners.
Indeed, for Leeds, innovating in the higher loan-toA resilient market
value (LTV) space has become a key tool in tackling
For Carton, that resilience is underpinned by the
today’s affordability challenges. By reducing the
enduring appeal of homeownership. She explains:
size of deposit needed to buy a home, the society
“First-time buyers remain really resilient and they
believes it can help more first-time buyers enter
are highly motivated to buy. I think that’s generally
the market sooner.
because home ownership is still a key life goal.”
As Carton explains: “Higher LTV lending can help
Rather than stepping away from the market,
reduce that time spent saving for a deposit. And
aspiring buyers are finding increasingly creative
actually, you’re buying at potentially a cheaper
ways to overcome the obstacles in front of them,
price than maybe you would have if you had
whether that means purchasing jointly or relying
waited another three to five years to save up.”
on family support.
One example is the society’s recently launched
She adds: “The average age of a first-time buyer
Start Mortgage range.
now is over 35. And then, of course, we’ve got the
Carton notes: “Innovation is always key for us,
‘Bank of Mum and Dad’ and actually ‘Bank of Gran
and we really look forward to the impact of the
and Granddad’ as well.”
new Start Mortgage range. We’re looking at 98%
For Leeds Building Society, that continued
LTV, which is really exciting.”
appetite reinforces the importance of evolving its
Carton says the product reflects the
proposition to meet changing customer needs.
society’s wider strategy to broaden access to
Carton notes: “We are really focusing on
homeownership without compromising lending
products that help overcome the issues, which are
standards. She adds: “We know deposits and
still deposit and affordability barriers.”
affordability are the main barriers. What we’re
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The Intermediary | July 2026
