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How can advisors make 2023 their year?

There are a lot of challenges facing homeowners and borrowers alike this year. Many of the former are looking at rises in mortgage repayments following the end of fixed-rate deals, while the latter have to deal with rising living costs making deposit saving harder.

That is a far from ideal outlook, but it does potentially present an opening for mortgage advisors.

People facing so much financial uncertainty will be more in need of sound advice from someone who has the CeMAP qualification needed to be able to provide it. When times are harder people turn to experts to help them navigate through, which means mortgage advisors will be essential.

Clients can be taught about increased costs for borrowing and what that will mean in terms of their lifestyles. Those who have grown accustomed to a market where interest rates are low will also need instruction on what to do now that this is no longer the case.

Advisors are the ones best placed to provide that sort of help, but maximising business this year will involve hard work. With low-cost fixed-rate loans in decline it will be necessary for advisors to look for affordable alternative mortgages, whether they prove to be specialist, variable rate or tracker loans. Keeping on top of developments among both mainstream and specialist lenders will be more vital than ever for advisors this year.

There is the potential for this to be a very good year for mortgage advisors, because people will need their help in a turbulent market. Getting the CeMAP qualification is the first step toward becoming a mortgage advisor.

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