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FTB mortgage enquiries rise

FTB mortgage enquiries rise

Category: Mortgages

Updated: 03/09/2009
First Published: 02/09/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Mortgage enquiries from first time buyers increased to 43 per cent of all consumer requests in July, making it the top most searched for advice criteria.

Having experienced a lull in such enquiries in June, the figures throw further weight behind the suggestion that a recovery in the housing market is under way, according to Unbiased.co.uk.

The second most searched for criteria was reported to be remortgaging advice, despite accounting for 30 per cent of enquiries compared with 33 per cent in June.

However, this is an improvement on figures in April and May, when requests for advice on remortgaging fell to 28 per cent.

"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," said David Elms, chief executive of the website.

"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," said David Elms, chief executive of the website.

Advice on residential and buy-to-let mortgages also proved popular in July.

The residential property sector has been the focus of much attention in recent weeks and months, following a number of studies and surveys which have reported rising prices and the beginnings of a recovery.

Just last week, figures from the Land Registry found that house prices rose at their highest rate for five years in August.

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