Reigniting the buzz of buying a home
The process of applying for a mortgage can also be overwhelming. The intricacies involved – such as understanding interest rates, loan and deal terms, as well as eligibility criteria – often leave new borrowers feeling unprepared and unsure how to proceed2.
Despite these challenges, mortgage brokers play a crucial role in reigniting the buzz of buying. Providing reassurance and guidance to FTBs can transform what might seem like a daunting process into a positive and empowering experience.
Navigating recent market conditions
Recent turbulence within the market has made the prospect of stepping onto the property ladder seem more difficult. In a recent study from Propertyable, approximately 77% of non-property owners expressed doubt about ever being able to buy a home, with over half (55%) of aspiring or existing FTBs admitting they lack the knowledge to begin the process of getting onto the property ladder3.
The report also noted that 36% of FTBs need more guidance on the homebuying process, proving that brokers are more important than ever in advising and guiding their clients through the latest government and lender support schemes. In times of change, this can strengthen the broker-client relationship, leaving clients feeling assured and confident that they are in the right hands.
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Your home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it..