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Demand for first-time buyer advice at 16-month high

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  • 07/09/2011
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Demand for first-time buyer advice at 16-month high
The number of enquiries for first-time mortgage advice rose 4% in August to a 16-month high of 41% of all people seeking mortgage advice, according to Unbiased.co.uk.

Its figures showed that first-time buyer enquiries remained top of all mortgage advice drivers, up from 38% in July.

Searches for remortgage advice on unbiased.co.uk’s ‘find a mortgage adviser’ service dropped in August, but remained strong at 33% compared to 36% in July.

Meanwhile, personal retirement planning was top of all ‘find an IFA’ searches in August, accounting for 38% of enquiries, while investment and savings advice came second at 26% of searches.

Karen Barrett, chief executive of unbiased.co.uk (pictured), said: “Our latest figures suggest real momentum in the first-time buyer market and a real consumer drive for mortgage advice.”

She said the rising confidence had been fuelled by falling house prices since 2008 and increasingly competitive mortgage rates at higher LTVs, as lenders return to the mortgage market.

“It’s great to see that these opportunities are encouraging consumers to seek whole of market mortgage advice,” Barrett said.

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