Yorkshire Building Society has teamed up with Doshi to offer potential homeowners online learning to guide them through the homebuying and mortgage process.
The educational tools on the homebuying and mortgage process can be accessed through Yorkshire Building Society’s website and is aimed at prospective homebuyers.
The service is free of charge to Yorkshire Building Society customers and non-customers.
Research from the mutual showed that a lack of knowledge was a “major blocker” for potential homeowners. Only 18% reported feeling knowledgeable about mortgages and 14% said that they didn’t know which financial factors were important for applying for a mortgage.
A poll of 2,000 people showed that only 45% of respondents acknowledged having a good credit score was important and only a third thought being able to repay debts mattered.
The Doshi tool takes aspiring homeowners through the homebuying and mortgage process, from understanding homeownership to preparing to buy, financing a home, parts of the homebuying process and maintaining the home.
Users will also learn about difference between freehold and leasehold, different types of mortgages and the application process, terms and acronyms, what factors to consider when buying a house and a timeline for the homebuying process.
Geddy Meguyer, senior manager for digital mortgages and enabling services at Yorkshire Building Society, said: “Buying a house is often the largest financial commitment people will make in their lifetime, but as our research suggests, knowledge around mortgages and the process of homebuying is low.
“We know from customer research that people feel more confident in their decision-making when they are informed and know what to expect, which is why we are trialing this new learning tool, aimed at helping first-time buyers understand more about the home-buying process.
“We’re committed to exploring new ways to solve customers’ pain points, so we’ll be evaluating people’s experience with the tool as time goes on to make sure it is as helpful as possible for potential home-buyers.”
Daniel Rose, CEO of Doshi, added, “Partnering with Yorkshire Building Society to empower aspiring homeowners is a significant step toward making homeownership more accessible.
“Our programme demystifies the mortgage process, providing engaging, bite-sized guidance every step of the way. We are excited to see the positive impact on first-time buyers.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
