Getting onto the property ladder is a huge milestone. But while so much attention goes into securing a mortgage, how often do we stop to think about what happens over the next 20, 30 or even 40 years?
In the latest episode of the ELEVATE Podcast Series, host Ellisha Jade speaks with Jinesh Vohra, CEO and Co-Founder of Sprive, about the true cost of borrowing, the rise of longer mortgage terms and why the industry needs to think beyond the initial transaction.
The mortgage journey doesn’t end when you get the keys
For many homeowners, securing a mortgage is the finish line. Once the paperwork is signed and the keys are collected, the focus shifts to making the monthly payments.
But Jinesh believes this is where an important part of the conversation is being missed.
With affordability pressures pushing some buyers towards 30 and 40-year mortgage terms, the conversation also turns to the long-term financial implications.
While extending a mortgage term can make monthly repayments more manageable, it can also significantly increase the total interest paid.
Small changes can make a big difference
One of the most interesting parts of the conversation is how relatively small actions can influence the overall cost of a mortgage.
Jinesh explains how Sprive enables homeowners to earn rewards from everyday spending and put that money towards their mortgage.
The discussion also highlights a wider challenge for the mortgage industry.
The bigger question is whether the industry can move from helping people simply get a mortgage to helping them manage it throughout their lives.
It’s a conversation that goes beyond overpayments and technology, touching on financial resilience, changing customer expectations and the future relationship between homeowners and the mortgage industry.
🎧 Watch the latest episode of ELEVATE with Jinesh Vohra to hear the full conversation and discover why getting the mortgage should be just the beginning.
