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· Unbiased.co.uk’s latest Mortgage Advice Drivers report reveals requests for advice on first time buyer mortgages has increased to an all time high of 51% in September

· Those looking for advice on re-mortgaging has increased to 34% in September 

New figures from Unbiased.co.uk, the professional advice website, reveal that first-time buyer enquiries reached an all time high with over half (51%) searching for this in September, making it the top most searched for advice criteria. 

The second most searched for criteria was re-mortgage advice.  With over a third (34%) of people selecting re-mortgage advice when looking for a whole of market mortgage adviser in September, this search criteria has increased from 29% in August.  Buy to let mortgages have also reached an all time high, with 17% of all enquiries now seeking advice in this area in September. 

Karen Barrett, chief executive of Unbiased.co.uk, commented: “With over half of people searching on Unbiased.co.uk’s ‘find a mortgage adviser’ search for advice on first time buyer mortgages, these figures suggest that many first time buyers have been waiting to step onto the property ladder and now have regained interest.  It appears many have been biding their time but now feel they are in a position to investigate what’s on the market and take the first steps by seeing a whole of market mortgage adviser to advise them on their mortgage options.”

“In light of the recent FSA proposals on a review of the mortgage market, there could be a future dip in enquiries from first time buyers as, with increased regulation, mortgage lending criteria could become even stricter.  While we welcome the protection that responsible lending will bring to consumers, it is vital that first time buyers are still able to access the property market and get on the housing ladder through an affordable mortgage. Seeking whole of market mortgage advice will always ensure first time buyers are able to find out what mortgage options available to them.”

“The FSA are also looking to regulate buy-to-let lending, so with an increased rise in enquiries from those looking to take out a buy-to-let mortgage, these investors will need to assess the options available.  With mortgage deals continually changing at the fast pace and regulatory changes on the horizon, it has never been more important to ensure you are seeking the best and most informed whole of market mortgage advice.”

The top ten Mortgage Advice Drivers in the September 2009 were as follows:

The report is compiled on a monthly basis from comprehensive data collected as a result of individual consumer selections made when requesting details of a local mortgage adviser through Unbiased.co.uk.  Consumers can carry out a confidential and free search to find a whole of market mortgage adviser near them by going to Unbiased.co.uk. 

ENDS

For further information on Unbiased.co.uk, the professional advice website pleases contact:

Sign up to Unbiased.co.uk’s unique Professional Connections service, allowing IFAs, mortgage brokers and solicitors to find and link up with other professional advisers across the UK to expand their current business network.

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Notes to Editors

Unbiased.co.uk, the professional advice website

Unbiased.co.uk is the free and confidential UK-wide search service matching consumers with the most appropriate local professional advisers for their needs.  In 2008, Unbiased.co.uk fulfilled over half a million searches for local, professional advice. 

The portal currently houses three professional advice searches: ‘find an IFA’, ‘find a mortgage adviser’, and ‘find a solicitor’, and is inviting accountants to sign up for its ‘find an accountant’ service.  These searches enable consumers to find relevant professional advisers by postcode, area of specialism and payment method, amongst other options. 

IFA Promotion, the organisation behind Unbiased.co.uk, is now in its 20th year, and was set up to promote the benefits of independent financial advice to the consumer. 

Unbiased.co.uk’s product provider sponsors

Registered Office: Unbiased.co.uk is the consumer brand of IFA Promotion Ltd, 90 St. Vincent Street, Glasgow G2 5UB. Registered in Scotland: No. 114606

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