New buyers ask for most mortgage advice

20-Apr-2010

Published by Helen Adams

Those most likely to enlist the help of mortgage advisors are first-time buyers, according to new research.

A study by unbiased.co.uk shows people looking to get on to the first rung of the property ladder remain the most likely to ask for mortgage advice, with 40 per cent of enquiries in March coming from those in the sector.

The Advice Drivers report puts first-time buyers above people looking to remortgage and residential loan advice seekers when it comes to taking the words of an expert on board.

However, the website's chief executive Karen Barrett has some words of advice.

She says: "It is essential that first-time buyers seek professional advice to ensure they are making the best decisions for their individual circumstances."

Ms Barrett also notes that only a whole-of market-mortgage advisor is qualified to offer guidance on a full range of products.

One reason for the enquiries of first-time buyers is thought to be chancellor Alistair Darling's recent Budget decision to up their stamp duty threshold to £250,000.

How to buy a house from finding your first property, first time buyer mortgages, mortgage advice, shared equity, shared ownership, joint ownership, part buy part rent and HomeBuy. All a first time buyer could need as well as first time buyer news at FirstRungNow.com.

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