The last 12 months have been dubbed the year of the first-time buyer (FTB), after mortgage enquiries for this group of people rose significantly across 2012.
Figures released by unbiased.co.uk have revealed this type of advice was the most sought after on the site’s Find a Mortgage Adviser service last year.
Reaching a peak level in August, FTB enquiries accounted for 41 per cent of all home loan searches on the portal, while the rest of the year saw them average 37 per cent.
Karen Barrett, chief executive of unbiased.co.uk – whose team of experts have more than 30 years of experience in financial services – noted 2011 was a particularly busy year for FTBs looking for help with their mortgage .
The industry figure stated: “While mortgage rates are continuing to be low as a result of the ongoing low base rate, lending criteria continue to be tight.”
In addition, the study revealed enquiries regarding the buy-to-let market also escalated, leaping from 17 per cent in September to 25 per cent in October.
This represented the highest-ever number of buy-to-let searches recorded by the site.
