An issue that mortgage advisors often face is that their customers do not really believe it is possible for them to get onto the property ladder. Whether because they have complex financial circumstances or credit issues, people feel that their situation is impossible. So, how can advisors develop the trust needed to overcome those fears?
The first step is to try to find out exactly what sort of home the individual in question is dreaming of. Many customers are trying to buy for the first time after years of renting, and their lack of knowledge regarding the market adds to their uncertainty. Advisors can utilise all that their CeMAP training course has taught them to outline the available options in a straightforward fashion.
Sometimes, customer doubts are fueled by families and friends who provide well-meaning but inaccurate information. Advisors can direct their customers to sites that offer reviews, as this will help to gain their trust so that worries can be overcome.
Often, people believe that their odds of getting a mortgage are much lower than they are in reality. For example, many first-time buyers are convinced that the deposit will be beyond their means, but there are lenders like Santander that allow people take out personal loans to cover deposit costs.
Ultimately, it comes down to a lack of well-informed information surrounding the realities of the mortgage market right now that makes people uncertain and pessimistic. This means the task facing mortgage advisors is to promote the knowledge and guidance that they can provide to give their clients confidence when moving forward.