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· Unbiased.co.uk’s latest Advice Drivers report reveals first time buyers remain the top ‘advice driver’, totalling 40% of all enquiries for details of a whole of market mortgage adviser in March

· 28% of consumers searched for remortgage advice in March, falling for the first time in 2010

With the Chancellor recently increasing the Stamp Duty threshold to £250,000 for first time buyers and the base rate remaining at an all time low of 0.5%, latest figures from unbiased.co.uk, the professional advice website, reveal those looking to get on the property ladder remain the number one ‘advice driver’ for enquiries for a whole of market mortgage adviser.  Totalling 40% of all enquiries on unbiased.co.uk’s Advice Drivers report for March, it appears that 2010 could see increasing levels of first time buyer activity.

There was a slight dip in enquiries from homeowners looking to remortgage in March, totalling 28% of all enquiries for a whole of market mortgage adviser.  This has dropped for the first time in 2010, falling from 32% in February.  The third top ‘advice driver’ was from people seeking residential mortgage advice, which rose to 23% in March (up from 21% in February). 

Karen Barrett, Chief Executive of unbiased.co.uk, commented: “Since the start of the year, unbiased.co.uk’s Advice Drivers report has shown that first-time buyers are seriously looking into getting their foot on the property ladder.  Now that first time buyers have also been given a helping hand with the Stamp Duty threshold being increased to £250,000, there is more incentive than ever to start looking into the financial possibility of getting into the property market.  

However, buying your first property is daunting and requires careful planning and research – not only into finding the right house, but also ensuring you will be able to cover the monthly mortgage repayments, the fees and the extra costs involved in buying a house.  It is essential that both first-time buyers and those looking to remortgage seek professional advice to ensure they are making the best decisions for their individual circumstances. Only a whole of market mortgage adviser can give advice on products from across the market, which suit the individual’s needs and financial position.  You can visit unbiased.co.uk to find a qualified, local, whole of market mortgage adviser who can guide you through the mortgage maze.”

The average top ten Advice Drivers in March 2010 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 visiting unbiased.co.uk. 

ENDS

Karen Barrett, Chief Executive, unbiased.co.uk: 020 7833 3131

Anna Schirmer/Anna Moulds/Charli Scouller, Lansons Communications: 020 7294 3682

For expert commentary or case studies from over 150 media-friendly IFAs, journalists should visit www.unbiased.co.uk/bluebook.

Twitter: @unbiased_co_uk

LinkedIn: Unbiased.co.uk - Online networking for professional advisers

About unbiased.co.uk, the professional advice website

The unbiased.co.uk portal is a free and confidential UK-wide search matching consumers with local professional advisers: ‘find an IFA’, ‘find a mortgage adviser’, and ‘find a solicitor’, and is currently inviting registrations for its ‘find an accountant’ service.  These searches enable consumers to find professional advisers by postcode, area of specialism, qualification and payment method. In 2009, unbiased.co.uk fulfilled half a million searches for local, professional advice. 

IFA Promotion, the organisation behind unbiased.co.uk, is now in its 21st year, and was set up to promote the benefits of independent financial advice to consumers.  IFAP is sponsored by the following companies:

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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