First time buyer mortgage enquiries increase

New figures from Unbiased.co.uk, the professional advice website, reveal that after a lull in June, mortgage enquiries from first time buyers have once again increased to 43% of all consumer requests in July, making it the top most searched for advice criteria.

The second most searched for criteria is re-mortgage advice. After rising to a third of all enquiries (33%) in June, July has seen a slight drop off, with re-mortgage enquiries falling slightly to 30%. However, this is still above the previous months of April and May which saw re-mortgage enquiries fall to 28%.

David Elms, chief executive of Unbiased.co.uk, commented: "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.

"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."