First time buyer mortgage enquiries rise

01 September 2009 / by Andy Davies

Requests for first time buyer mortgage advice increased in July, accounting for 43 per cent of all advice requests and making it the most searched for advice criteria, has revealed.

This represents a two per cent increase on the previous month, and a nine per cent rise since advice requests from first time buyers fell to 34 per cent in November 2008.

Commenting on the figures, David Elms, chief executive of, said: "These July figures suggest that after a slight drop off last month, there is regained interest from first time buyers thinking of entering the market.  

"Many first time buyers who are in the process of scoping the market to see whether they are able to get on the property ladder are also seeking a whole of market mortgage adviser who can give whole of market advice and start to unravel the confusion of those looking to enter the market."

The professional advice website also revealed that re-mortgage advice is the second most popular request with a score of 30 per cent, down from 33 per cent in June.

David Elms believes it is a good idea to speak to mortgage advisers about your options if you have any concerns, he said: "These figures also show that although searches on re-mortgage advice have dropped slightly in July, many still remain baffled by the mortgage maze and are continuing to seek whole of market mortgage advice to guide them on their options.  

"With mortgage deals continuing to change at a fast pace, only whole of market mortgage advisers can give you advice on all the options available as they can access products from across the range of mortgage providers."

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