TikTok vs talking to your broker? It’s no contest

TikTok and Instagram: Fun, Fast, and Free – But Be Picky About Your Home Loan Advice

TikTok and Instagram reels are all about quick entertainment, but when it comes to something as important as your home loan, it’s essential to be careful about whose advice you trust.

Chances are, if you’re reading this blog, you’ve watched a TikTok or Instagram video or two. And with over 8.5 million Australians on TikTok and nearly 14 million active on Instagram, it’s no surprise these platforms have become go-to sources for all kinds of information, including financial advice.

Social media became a lifesaver for entertainment during the COVID lockdowns, and it continues to engage us with everything from Korean lunch ideas to family routines. But while it’s fun to scroll through these videos, navigating the world of **mortgages** on these platforms can be a bit trickier.

69 Million Views for Mortgage

Did you know that almost 30% of Australians say they turn to social media for financial advice? And it’s especially popular among Gen Z, with nearly half (48%) acting on financial tips they see online, according to Finder.

This trend is no surprise when you consider the power of hashtags like #TikTokMadeMeBuyIt, which has racked up an astounding 31.8 billion views. But what’s even more surprising is the growing number of Australians who use TikTok and Instagram to find home loan tips.

In fact, #Mortgage content has received 69 million views on TikTok alone in the past year. While it’s great to see money conversations becoming more mainstream, it’s important to consider the source when it comes to something as significant as a home loan.

Who Should You Trust for Home Loan Advice on TikTok?

There’s no doubt that TikTok, Instagram, Facebook, and LinkedIn can be helpful tools for home buyers looking for information. However, the challenge with social media is that anyone can post content. When it comes to making the biggest financial decision of your life—getting a mortgage—the last thing you need is unreliable advice.

In Australia, influencers who provide advice on financial products must be licensed, and mortgage brokers are subject to strict industry regulations. These regulations ensure the information provided is accurate and compliant. Many brokers work closely with compliance teams to ensure that their content meets legal standards.

But remember, TikTok and Instagram don’t just show you Australian content. Their algorithms are designed to deliver more of what you’re interested in, which means you might end up seeing home loan advice from creators based in countries where the rules around financial advice are different or, in some cases, non-existent.

The Bottom Line

Whether you’re just starting your first home buyer journey or you’re ready to take the next step on the property ladder, social media can be a fun and convenient way to get information. But when it comes to something as important as your home loan or investment property loan, it’s crucial to ensure the advice you’re following comes from a licensed mortgage broker based in Australia.

Better yet, why not pick up the phone and give us a call? We may not win a dance-off on TikTok, but we can provide tailored home loan advice that’s specific to your situation—saving you time and giving you much more value than scrolling through countless #homeloan videos.

Ready to Take the Next Step?

At Clark Finance Group, we make the complex world of mortgages simple. Whether you’re buying your first home, refinancing, or investing in property, our licensed brokers are here to provide you with the best advice and guidance. Contact us today or book an obligation free appointment CLICK HERE.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It does not constitute tax or financial advice. Consider your personal circumstances and seek professional advice before taking any action. This content is protected by copyright laws and other intellectual property laws and may not be modified, reproduced, or republished without prior written consent.