A Strong Start with First-Time Buyers Can Build Lifelong Value

The current market is not an easy one for first-time buyers. The cost of purchasing and owning a home remains particularly high, with house prices, interest rates and utility costs all putting pressure on affordability. That said, there are some encouraging signs.  

Government commitments to increase housebuilding bring hope of more affordable options. And we’ve seen a 12% rise in first-time buyer activity compared to the same period last year. 

It’s true that part of that surge was likely driven by people bringing forward purchases ahead of the recent stamp duty changes. But the pace has remained steady, and there is reason to feel cautiously positive about continued demand among first-time buyers this year. 

As a mortgage advisor, including first-time buyers in your client base is not just about doing the right thing – although it is that too. It also makes strong business sense. If you can support a client at the very beginning of what is often a highly emotional journey into homeownership, and continue to support them as their needs change, you are building long-term value into your business. 

First-time buyers may go on to move home, remortgage, protect their income or invest in property. They may also recommend you to friends and family. Looking after them properly from day one increases the chances that they will turn to you again and again for guidance as their lives and finances evolve. 

At Cornerstone, we recognise how important that first interaction is – both for the advisor and the buyer. That’s why we focus so much on making sure advisors have the tools they need to give good advice, confidently and efficiently. Our whole-of-market access means advisors can offer products that genuinely suit the client’s needs. And the technology we provide is built to keep the advisor focused on the client, not on the screen. 

Our system makes it easy to check product suitability and affordability across the market, and it does so in a way that enables advisors to have proper, in-depth conversations with their clients. We know that matters – particularly for first-time buyers, who are often overwhelmed by the complexity of the process and the volume of information out there. 

We also invest in keeping our network informed. Every Friday we bring in a lender, insurer or other relevant speaker to brief our advisors on changes in the market or new product developments. That includes emerging options for clients who may benefit from things like equity release within their family. Not every advisor specialises in those areas, which is why we offer support and referral routes to others in the network who do. 

Supporting first-time buyers is about more than just securing a mortgage. It’s about making what can be a difficult process feel more manageable – and setting up a relationship that has the potential to last for decades. At Cornerstone, we believe the right systems and support help our advisors to do just that. 

Graeme Lewis talks about supporting first-time buyers in the Cornerstone Finance Group podcast, episodes three and four. Listen to the podcast here: Cornerstone: Podcast Series – Business News Wales