Astute mortgage advisers are attracting the elusive millennial and Gen Z market by harnessing the power of social media platform TikTok.
If you think going viral online is something that only happens to unfortunate people caught up in embarrassing moments, then think again.
These days qualified mortgage advisers are gaining millions of views on their TikTok videos by sharing advice that debunks mortgage myths, improves financial literacy and helps young people buy their first home and build a property portfolio.
Trailblazers in this field include brokers Michael Isherwood, Glen Russell, Ewa Brzeska and Saira Haider who have all attracted more than 1mn views on their most popular videos on finance and mortgage advice.
They specialise in creating informal videos that cut through confusing jargon and use layman’s terms to explain a range of topics, including credit score checks, buy-to-lets, and advice on how to apply for a mortgage.
In doing so, many of these brokers have tapped into the hard-to-reach millennial and Gen Z market.
This comes as young people are increasingly turning to TikTok to improve their financial literacy and diversify their income. In fact, videos with a mortgage hashtag have gained more than 900mn views globally, while #mortgagebrokeruk has 4.1mn views, and #sidehustle has attracted 9.5bn views worldwide on the app.
Isherwood, who is a mortgage broker at Blackpool-based Progress FS, and has a following of more than 114,000 on his TikTok account named pfsmortgages, says: “Tiktok has been amazing for my business. It has enabled me to attract many new clients.
"What has been fantastic is when the people contact me for help, many of them openly comment on how they feel like they already know me and trust me. So, rapport and trust is already there from the beginning."
He says that the global reach of social media means he is attracting clients across the UK: “Another great advantage is I am no longer tied to my geographic location and have been fortunate enough to help clients from all over the UK.”
Keeping it casual
A common factor between brokers with a large online following is that they film themselves in informal settings, which creates the perception of them being an approachable friend.
In fact, Haider says she believes her success in capturing a wider female-based audience can be attributed to filming her videos at home while doing real-life chores.
Haider, who has 60,000 followers on TikTok account MansionBroker and 1.1m views on a video on how she affords to drive a Ferrari, adds: “My life is so busy that I have to make videos when I am on the go. I always want to be realistic, so I am not always immaculately dressed – my videos are real and raw.