Research shows more first-time buyers using advisors
December 28, 2024 by Mark
Mortgage Advisors
The latest research on the UK mortgage market has found the number of people buying for the first time who are using an advisor has increased – and the rise is considerable.
What this research by mortgage lender Aldermore reveals is that 64% of those buying for the first time in 2024 made use of an advisor. In comparison, the figure for last year was just 36%, which indicates a shift has taken place in the mindset of first-time buyers.
The Aldermore research also found that bringing in a mortgage advisor to help during the application process had produced positive results. 90% of those first-time buyers who took part in the survey said the experience had been a good one.
Among the reasons that they cited for that were the fact that the advisor had made the process easier to understand (42%), had assisted them in filling out the necessary forms (42%) and had represented their interests throughout (40%).
The majority of respondents also said that they had found mortgage advisors to be more affordable than anticipated. Jon Cooper from Aldermore told Financial Reporter that:
“Brokers are invaluable, not just for finding the best deals but also for guiding clients through a complicated and unfamiliar process.”
This will be welcome news to those looking for a CeMAP training company to get into the mortgage advice market.
Written by
Mark
You may also interested in:
Mental health charity ball announced for UK mortgage industry
The two men who put together the Mortgage Industry Mental Health Charter (MIMHC) have organised a charity ball for later in the year that will be
MPowered Mortgages expands digital assistant service
MPowered Mortgages has announced that it is expanding the functionalities of its AI-fuelled digital assistant, with this tool now set to
