How Charlotte Harrison of Skipton Group aims to help more people buy a home

Charlotte Harrison of Skipton Building Society plans to help more people become home owners. She has become the interim CEO of the mutual’s newly created Home Financing business and plans to work with colleagues across the group to overcome some of the biggest problems facing the housing sector.

Ms Harrison, who is the former Head of Mortgage Products at Skipton, said: "We want to take meaningful action to get people on to the property ladder. This feels like the perfect transition; bringing people together to support the customer journey from end to end.

"It gives you a clear line of sight of what customers need. It creates an end to end vision of what we are providing and how we can improve it by providing a lot more targeted services to customers and brokers.”

She added: "Some people, for example, might believe that they cannot afford to get on the property ladder but, after speaking with a broker there might be different routes to achieving home ownership such as shared ownership.”

She believes the best way of achieving success is to combine boldness with a willingness to learn. Ms Harrison started working in financial services when she was a teenager and has witnessed revolutionary changes in the sector.

But some values are timeless; it pays to pick up the savings habit when you’re young and there is no substitute for a sound financial education.

"I moved out of my home when I was 16, got my A-levels, but then clearly, I needed a job to pay the bills,’’ she recalled.

“As such, I was thrilled when this was a financial services role, even if it was not particularly glamorous.

"This is my advice to others; be curious, be brave and don’t limit yourself. I’ve been fortunate enough in my career to seize opportunities when presented, and also been supported in gaining further qualifications. But it’s taken hard work, and lots of bravery and trying something new.”

"There are quite a number of approaches to home ownership,’’ she added. “Once you have a foot on the property ladder you start to benefit from house price growth. People could, for example, buy a property with friends or enter into an agreement where a housing association buys 50 per cent of the property they live in.

"Another solution, if prices are too high in the place they want to buy, is to broaden the search area.

"There isn't a one size fits all approach,’’ she said. “We need to consider the underserved segments of the market and the fact that some people don't know that home ownership is within their reach.”

"Financial education is very important as well,’’ she added. “It's about setting out your stall by adopting good saving habits. The process can be quite confusing and off-putting and we can play a role in myth busting and improving financial education.”

Educating young people about finance will make them more resilient when faced with cash flow problems and less likely to make rash decisions which could burden them with unsustainable levels of debt.

"Research suggests that 60 per cent of savers don't understand what compound interest is,’’ Ms Harrison said. “You can set yourself up for success by enhancing your understanding of personal finance and the importance of factors such as your credit rating.”

Ms Harrison is proud to work for a mutual which retains a strong branch network and gives back to the communities it serves. The society’s philanthropic work also has a global dimension. Last month, just hours after the launch of the Disasters Emergency Committee’s Turkey-Syria Earthquake Appeal, the Skipton Group pledged £55,000 in funding to support relief efforts. The week before Christmas, the society donated £50,000 to 100 foodbanks across the UK at a time when inflation had soared to levels not seen since the 1980s.

"We are bringing jobs to this area and supporting local businesses,’’ said Ms Harrison. “Our 88 branches have offered a lifeline for local communities, which was particularly to the fore during the pandemic, although we are mindful of the growth in digital services.

"I want to grow the business and what really excites me is the ease of interaction around services linked to home buying.”

In keeping with her passion for lifelong learning, Mr Harrison wants to ask questions which could lead to improved services for customers.

"We can also tap into the expertise at Connells (the high street estate agency and property services provider which is part of the group); what more can we do to reduce the friction points and take them out of the buying journey? One in every 10 property buyers in the UK will go into Connells.”

Ms Harrison also believes Skipton should consider different entrance points to market and she supports the provision of more affordable, energy efficient houses. Over time, she believes more women will take on top jobs in the financial services sector.

"Change doesn't happen overnight, but if more women occupy senior positions in management, it's more likely that you will see other women putting themselves forward for these types of roles,’’ she added.

She hopes collaboration can lead to lasting change in her sector.

“I’m also really looking forward to driving more collaboration from across the Skipton Group to enable us as a group to tackle some of the key issues impacting our members and the UK housing sector.”