Enquiries from those looking to re-mortgage jumps in June
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Unbiased.co.uk’s latest Mortgage Advice Drivers report reveals requests for advice on re-mortgaging increased to a third (33%) of all consumer requests in June
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First time buyers’ requests for details of whole of market mortgage advisers remained at nearly half (41%) of all consumer requests in June
New figures from Unbiased.co.uk, the professional advice website, reveal that those looking for advice on re-mortgaging increased to a third (33%) of all consumer requests in June. While the requests from those seeking whole of market re-mortgage advice still remains in second place behind first-time buyer enquiries, they have significantly increased by 5% since May 2009.
Requests from first time buyers for whole of market mortgage advice have remained the top most searched for advice criteria in June. 41% of all consumer requests on Unbiased.co.uk’s ‘Find a mortgage adviser search’ in June were relating to first-time buyer queries, a small drop from 44% seen in May 2009.
The third most popular search was for whole of market mortgage advice on the residential property market with nearly a quarter (24%) of searches specifying this option.
David Elms, chief executive of Unbiased.co.uk, commented: “These latest figures suggest a stirring amongst those thinking about re-mortgaging, after the previous two months drop in re-mortgage enquiries. More of those looking to re-mortgage are now seeking a whole of market mortgage adviser who can give whole of market advice and start to unravel the confusion of the current mortgage market.
“It is also clear from these new figures that first time buyers remain baffled with the mortgage maze, and are continuing to seek whole of market advice to get guidance and help on the right mortgage decision for them. With some mixed news on whether there are signs of recovery in the property market, as well as mortgage options and deals still changing at a fast pace, it is not surprising that those looking to enter the market are seeking advice. Only whole of market mortgage advisers can give you advice and recommend solutions and products from across the range of mortgage providers.”
The top ten Mortgage Advice Drivers in the June 2009 were as follows:
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Top Ten Mortgage Advice Drivers: June 2009 |
Requests for a whole of market mortgage adviser % of total |
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1 |
First time |
41% |
|
2 |
Re-mortgage |
33% |
|
3 |
Residential |
24% |
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4 |
Buy-to-let |
12% |
|
5 |
Self-Employed |
8% |
|
6 |
High loan to value |
6% |
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7 |
Equity release |
6% |
|
8 |
Flexible |
3% |
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9 |
Sub-prime |
3% |
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10 |
Right to buy |
2% |
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TOTAL (All drivers) |
5940 |
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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.
ENDS
For further information on Unbiased.co.uk, the professional advice website pleases contact:
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David Elms |
Anna Schirmer/Jennifer Comerford/ Anna Moulds |
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Unbiased.co.uk |
Lansons Communications |
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020 7833 3131 |
020 7294 3682 |
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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.
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