New research from unbiased.co.uk, the ‘find an adviser’ search, found we are set to see a new wave of home buyers return to the housing market as first time buyer confidence sweeps the UK. unbiased.co.uk’s First Time Buyer Confidence Index shows nearly four in five (78%) first time buyers (FTBs) are confident they will get onto the housing ladder in the next 12 months.
While one in ten Brits (10%) are looking to buy a property within the next twelve months, Londoners are leading the way, with almost a third (29%) planning on purchasing their first home within the next year.
The data shows confidence seems to be soaring amongst male first time buyers - a whopping 89% state they are confident they’ll be able to make their first property purchase within a year. This is compared to just 58% of women.
One reason for high FTB confidence levels may be the way the current generation of FTBs are approaching the way they’ll finance their first home and how open they are to seeking advice. Four out of five (82%) of FTBs say they are already planning or would consider seeking professional financial advice to help them secure the best mortgage deal. This compares to 42% of all UK adults
unbiased.co.uk chief executive, Karen Barrett, comments: “It’s great to see such high numbers of people looking to get on the property ladder, while also planning to seek professional advice when they take the first step.
“The mortgage market has changed quite significantly from just four or five years ago. Over this period we have seen stricter lending criteria come in with the introduction of tighter affordability rules, this makes it harder for borrowers to identify the most attractive deal they could secure. This is exactly where the value of a professional, whole of market adviser comes in – they are experts in the mortgage market, know each lender and their criteria and can quickly find the right mortgage option for you, leaving you to focus on setting a moving date.”
To find a whole of market mortgage adviser or financial adviser, simply go to www.unbiased.co.uk and enter your postcode.
Notes to editors:
1. unbiased.co.uk research conducted by Opinium Research between 5-8 August 2014, among 2,006 nationally representative UK adults aged 18+. First time buyers refer to those who are looking to buy their first property in the next 12 months.
For more information contact:
Emily Falla / Kate Aitchison: 020 7294 3682
For expert commentary or case studies from over 200 media-friendly advisers, journalists should visit unbiased.co.uk Bluebook - the media adviser directory
LinkedIn: unbiased.co.uk - online networking for professional advisers
About unbiased.co.uk, the professional advice website:
unbiased.co.uk is the UK's most comprehensive free professional adviser search website, focused on empowering users with the resources they need to make better informed financial and legal decisions. We not only help consumers and businesses find the best adviser for their needs from 24,000 IFAs, financial advisers, mortgage advisers, solicitors and accountants listed on our search, but we also help them research the market by providing relevant information and tools. At unbiased.co.uk we are transparent about what we do and provide the easiest way for consumers to find and compare advisers meeting their requirements.
The unbiased.co.uk website launched in 1998 and rapidly became the UK’s leading online destination for consumers and businesses looking to find an adviser. Now attracting over one million visitors a year, unbiased.co.uk is the default adviser directory for consumer websites recommending their audience to ‘find an adviser’.
unbiased.co.uk has launched a new industry-facing website for the adviser community at business.unbiased.co.uk.
Unbiased Ltd promotes the benefits of financial and legal advice to consumers and businesses and would like to thank the following companies for their support:
Canada Life Ltd
|Royal London Group|
Legal & General
|Santander Asset Management|
|Standard Life Assurance Limited|
|Zurich Intermediary Group|
Unbiased Ltd - Registered Office: 12-14 Berry St, London, EC1V 0AU. Registered in England: No. 06775878.