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First-time buyer advice enquiries leapt in 2011

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  • 27/01/2012
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First-time buyer advice enquiries leapt in 2011
First-time buyers and buy-to-let applicants sought advice more than any other type of buyer last year.

Figures from adviser directory, unbiased.co.uk, revealed searches for first time buying advice overtook all other types in 2011 and peaked in August last year at 41% of all searches.

On average across the year, 37% of all searches made by consumers on the search engine were for mortgage advisers which listed first-time buyers as a speciality.

The strengthening buy-to-let market pushed enquiries from 17% in September to 25% in October last year, a record for buy-to-let searches on unbiased.co.uk and the high level of searches continued in the last three months of the year.

Searches for remortgage advice fluctuated throughout the year between 29% and 36%, hitting highs in January, July and November.

Karen Barrett, chief executive of unbiased.co.uk, said: “While mortgage rates have stayed low as a result of the ongoing low base rate, lending criteria continues to be tight, leading to an increase in first time buyers looking for guidance and help.

“Mortgage advisers should be encouraged by these figures and look forward to a busy 2012, as we enter the traditional home buying season. We are also seeing signs of the buy-to-let market picking up and we expect 2012 to show a continuation of that trend.”

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