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
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Accord Mortgages Limited is authorised and regulated by the Financial Conduct Authority. Accord Mortgages Limited is entered in the Financial Services Register under registration number 305936. Buy to Let mortgages for business purposes are not regulated by the Financial Conduct Authority. Accord Mortgages Limited is registered in England No: 2139881. Registered Office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Accord Mortgages is a registered Trade Mark of Accord Mortgages Limited.
References to 'YBS Group' or 'Yorkshire Group' refer to Yorkshire Building Society, the trading names under which it operates (Chelsea Building Society, the Chelsea, Norwich & Peterborough Building Society, N&P and Egg) and its subsidiary companies.
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