Demand for advice from first-time buyers hits annual high

Whole of market mortgage advice on first-time buying triggered 40% of total searches on its ‘find a mortgage adviser' service, levels not reached since April last year, report unbi

Related topics:  Mortgages
Millie Dyson
7th July 2011
Mortgages
This has risen from 36% in June 2010 to 40% in June this year.  Interest in buy-to-let still remained high with nearly one in five (19%) consumers searching for this particular type of advice.

At the same time, 39% of consumers using the professional advice website's ‘find an IFA' search in June 2011 were looking for independent financial advice on their personal retirement planning. 

Enquiries for independent financial advisers specialising in investments and savings saw a slight fall from 28% in May, to 26% in June this year, but this area of advice still drives the second largest number of searches from consumers who are considering their long-term financial planning and want independent financial advice to help them review their options.

Karen Barrett, Chief Executive of unbiased.co.uk, comments:

"Our ‘find a mortgage adviser' figures suggest that confidence in the mortgage market is returning; we are seeing quite fast paced changes with a number of mortgage lenders having made their products more available by increasing the loan-to-value and offering attractive rates as the base rate remains historically low.

"This has led to an increase in the demand for whole of market mortgage advice from first-time buyers - it's really good to see that they are looking for this type of advice to ensure they get a complete overview of all the products which are currently available to them and make the best choice according to their financial position.

"On the wider financial spectrum, pensions and retirement provision continue to dominate the news agenda.  It is critical for people to engage with their financial provisions for a life after work.

"It is important for people to understand that only an independent financial adviser can offer them advice on all the options available to them, helping them to make the right decision for their individual circumstances."
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