Following an increase of 25 per cent in the last four months, the number of first-time buyer leads on Leadbay's books has slipped below the number looking for advice on remortgaging.
This is the first time Leadbay has seen such high demand for remortgages since January 2005 - typically the number of first-time buyer leads is around 5-10 per cent higher.
Simon Baker, Leadbay’s commercial manager said: “It appears that borrowers are really astute at the moment in terms of looking to lower their mortgage rate."
He added that the dip in the number of first-time buyers indicated their desire to wait and see in terms of what will happen as the housing market regains a degree of stability.
