Demand for mortgage advisors increasing

February 18, 2010 by Brendan

CeMAP

Mortgage Advisors

News

Consumer requests for local mortgage advisors have increased by 50 per cent since January last year, indicating an increased level of activity for the mortgage industry, according to mortgage website Unbiased.

In January 2010, the site received approximately 7,000 requests from the general public for the details of a local mortgage advisor – an increase of 50 per cent compared to the same month last year.

The Advice Drivers report from mortgage advice site Unbiased is collated monthly from the consumer requests for mortgage advisor details through their site. This month’s report showed that the bulk of the enquiries (43 per cent) came from those seeking first-time buyer information and a further 30 per cent were from those seeking remortgage information. 20 per cent were for residential information and 13 per cent from those looking at buy-to-let.

These figures indicate that first time buyers are looking at the property market for this year despite the uncertain nature that still seems to hover round the market.

Chief executive of Unbiased, Karen Barrett, commented:

“It appears many now feel they are in a position to investigate what’s on the market and take the first steps by seeing a whole of market mortgage adviser to advise them on their mortgage options. Even though the base rate still remains low, some lenders have started to increase their mortgage rates.

“It appears that a combination of this and an increasing number of mortgage products on the market has resulted in a large proportion of homeowners to review their mortgage to see if they could remortgage to a better deal.”

All of this bodes well for those studying for their CeMAP qualification at the moment.