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Brokers demand more first-time buyer products

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  • 27/06/2013
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Brokers demand more first-time buyer products
Mortgage brokers would like to see greater product innovation in the first-time buyer and equity release sectors, according to the latest Mortgage Solutions poll.

As part of our product innovation week we asked brokers which areas of the market most needed new products. The poll found that 29% of respondents thought first-time buyers were still underserved, despite government schemes such as Help to Buy and NewBuy being targetted at this sector.

Equity release was the next most popular option with 27% wishing to see more products on the market.

Around a quarter (25%) of voters said that buy-to-let needed product innovation most.

Protection, remortgage and house purchase all attracted fewer than 10% of the votes cast.

Results
First-time buyer 29%
Equity release 27%
Buy-to-let 22%
Protection 9%
Remortgage 9%
House purchase 4%

Yesterday Mortgage Solutions asked three industry figures which were the most exciting products currently on the market. To see the opinions of Mortgage Advice Bureau new homes director Andy Frankish, Your Mortgage Decisions director Dominik Lipnicki and Ying Tan of The Buy to Let Business click HERE.

To see all the coverage from our product innovation week click HERE.

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