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How can advisors reassure borrowers?

These are stressful times for borrowers. The fluctuating housing and mortgage markets have many of them alarmed and looking for help and information from anywhere. It is important that they get it from a mortgage advisor with the proper CeMAP qualification rather than being misled by information from a less reliable source. So, how can advisors guide borrowers through the current minefield?

Education

Education about the nature of the mortgage market can do a lot to ease the fears of borrowers, and can also stop them from making an expensive error. Sometimes, their existing information sources are parents, but much of what they were told will no longer be applicable in 2022.

How you educate them may vary depending on their age. Older borrowers may prefer something more traditional, such as brochures, while younger people may respond better to internet videos.

Accuracy

Advisors should emphasise that they are the only people who can provide accurate and reliable information. That means making it clear that other sources – ranging from social media to friends – cannot do that.

Nowadays, there is a lot of temptation for people to try to find information using Google searches, but the mortgage market requires specialist knowledge from a trained advisor.

Breadth of knowledge

These days, a narrow grasp of the market is unlikely to be enough. Advisors must broaden their scope to encompass politics and economic issues, as these are impacting on the market to an increasing degree.

Having this breadth of knowledge will help convince borrowers that you can guide them.

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