The Growth Series

Podcast #100 - How Brokers Can Support First-Time Buyers



In episode 100 of the Growth Series podcast, Kathy Clark, Business Development Manager at Accord Mortgages, speaks to Lea Karasavvas, Managing Director at Prolific Mortgage Finance, about first-time buyers, the difficulties they face and how brokers can help this particular group.

Kathy begins by asking Lea about the challenges first-time buyers often face when trying to buy a property, and he says affordability is the key issue right now.

Lea is then asked to give advice for first-time buyers who are choosing a mortgage, and he suggests that if they don’t know the area they’re moving to well, they should take out a shorter term mortgage, in case they don’t like it and want to move elsewhere in the future. He also recommends that first-time buyers think about whether they plan to start a family in their new property, so they can pick a house that is suitable for raising a child.

The pair then discuss how mortgage brokers can help first-time buyers navigate the mortgage application process and access government schemes, and Lea states that the onus is on brokers to make sure they’re up to date with what’s going on in the industry.

Next, Kathy and Lea talk about common misconceptions or myths that first-time buyers may have about mortgage brokers, and Lea says many mistakenly believe that brokers only deal with large loans and affluent clients.

This, he insists, isn’t true, as their aim is to help people achieve their dreams and get the best deal they can.

The Growth Series is a dedicated and FREE resource for mortgage brokers, containing blogs, guides and podcasts, to help you scale and grow your business. For more hints and tips on how to grow your business, you can sign up to the Growth Series here.

00:52 to 30:54

  • Introduction to guests
  • Challenges faced by first-time buyers
  • Advice for first-time buyers
  • How mortgage brokers can help first-time buyers
  • Helping first-time buyers access government schemes
  • How first-time buyers can improve their creditworthiness
  • The impact of technology
  • Misconceptions and myths about mortgage brokers
  • How mortgage brokers can offer support in uncertain times


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