First time buyer request for mortgage advice were 41% of all consumer requests in June, a drop from 44% seen in May 2009. However, they still remained the top most searched for advice criteria in June.
The third most popular search was for whole of market mortgage advice on the residential property market with 24% of searches specifying this option.
David Elms, chief executive of Unbiased, said those looking to re-mortgage want a whole of market mortgage adviser who can start to unravel the confusion of the current mortgage market.
He added that first time buyers remain baffled with the mortgage maze. He commented: “With some mixed news on whether there are signs of recovery in the property market, as well as mortgage options and deals still changing at a fast pace, it is not surprising those looking to enter the market are seeking advice.”
Other advice drivers included buy-to-let (12%) and equity release (6%). The report is compiled monthly from data collected from consumer selections made through Unbiased.
