Remortgage advice has increased by 1% in April, to 29% of the total number of enquiries through unbiased.co.uk’s ‘find a mortgage adviser’ search.
First-time buyers wanting to get onto the property ladder remain the number one ‘advice driver’ for enquiries for a whole of market mortgage adviser, and this has increased to 41% in April from 40% in March.
The third top ‘advice driver’ was from people seeking residential mortgage advice, which remained steady from last month at 23%. With the re-introduction of higher loan-to-value of deals, those seeking whole of market mortgage advice on high loan-to-value products has spiked to a high of 9% in April, increasing from just 7% in March.
Karen Barrett, chief executive of unbiased.co.uk, commented: “While the housing market may still be a little uncertain due to the knock on effect of the General Election, more affordable deals with higher loan-to-values have come onto the market place – and it is clear this has prompted many prospective buyers to start investigating their mortgage options. As property prices are slowly starting to rise again, those looking to remortgage are also re-assessing their current deal and appear to be on the lookout for the right move.
“However, with such an increase of new deals on the market place, it can be confusing and daunting to know where to start, therefore 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 them.”
