10
Feb
First-time buying 'most popular enquiry for estate agents'
Advice about entering the property market for the first time was
the most sought-after during 2009, new research has revealed.
Despite the economic downturn, first-time buyer enquiries dominated
the table compiled by Unbiased.co.uk.
The survey detailed the most popular subjects of advice consumers
approached estate agents and mortgage advisers for in terms of home
financing.
Two-fifths (40 per cent) of those who asked for mortgage advice
last year wanted help with their first property purchase.
This was followed by homeowners looking for guidance about
remortgaging and general residential enquires.
Meanwhile, just two per cent of enquiries related to commercial
property mortgages and many consumers appeared to have given up on
high loan-to-value products, with just three per cent seeking
information about this type of mortgage.
According to Bank of England statistics, net lending secured on
dwellings in December 2009 increased by £1.2 billion compared
with the previous month.
It also found that the number of approvals of loans for house
purchases had fallen slightly since November, but still remained
above the previous six-month average.