The Growth Series

Podcast #52 - Working with first-time buyers during a pandemic


In episode 52 of the Growth Series podcast, Katie Pepper, Communications Manager at Accord Mortgages, is joined by Cheryl Roulston, Mortgage Team Leader at Bespoke Financial Group. In her role, Cheryl is a mortgage and protection adviser, who also manages a team of 5 more advisers. In this episode, Cheryl and Katie take a look into the obstacles that the pandemic has created for first-time buyers, and how advisers are positioned to help.

Katie and Cheryl discuss changing attitudes to self-serve mortgages throughout the pandemic, as people who would generally opt for execution-only services found themselves returning to Bespoke Financial Group for advice as a result of changing criteria. Cheryl also points out that Bespoke saw their record lending months through June, July and August pointing to an increased desire to get on the housing ladder when the lockdown restrictions had been lifted.

The two then go on to discuss the kinds of properties that first-time buyers have been looking for, and how brokers can manage their expectations and help them achieve their goals. They also cover the ways in which advisers can appeal to these audiences, and put first-time buyers' worries to rest by offering support throughout the process.

They discuss the biggest challenges facing first-time buyers in the current economic landscape, with higher LTV products lacking and banks of mum and dad not being as full as they once were, and how that’s set to change as time goes on. 

To close off the conversation, Katie and Cheryl talk about what support first-time buyers will need with the approaching 31st March deadline of Help to Buy regional caps, the end of the stamp duty holiday and what the next 6 months will look like for first-time buyers and brokers.

The Growth Series is a dedicated resource that aims to help mortgage brokers grow their business using digital and communications marketing techniques. For more hints and tips on how to grow your business, you can sign up to the Growth Series for free, here.

1.36 - 9.50 discuss:

  • An introduction to Cheryl’s role
  • The changing attitudes towards execution-only and self-serve
  • High demand for first-time buyers throughout the pandemic
  • The types of properties that first-time buyers are looking at
  • How advisers can manage expectations
  • What advisers can do to appeal to the first-time buyer audience 
  • The biggest challenges facing first-time buyers
  • The current state of family support and the bank of mum and dad
  • What support first-time buyers will need as the stamp duty holiday ends and Help to Buy regional caps are introduced
  • Looking ahead to the next 6 months 

Want to find out more? Read Your top questions about Help-to-Buy answered

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