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First-time homebuyers committed to advisor use

Research into attitudes among those looking to buy their first home that has been conducted by Yorkshire Building Society reveals that close to eight out of every 10 plan to get help from a mortgage advisor.

Yorkshire Building Society acts as the mortgage lending arm of Accord, and its research shows that 78% of people entering the housing market for the first time intend to consult a mortgage advisor. Indeed, 13% of the 2,000 first-time homebuyers that it spoke to for this survey had already made contact with one to find out what their options were.

Being able to connect with a wider range of lenders and therefore have a better selection of loans to choose from was the primary motivation behind speaking to an advisor for 36% of these buyers.

Another 34% of them told Yorkshire Building Society that they wanted assistance from a qualified advisor because they did not feel they had enough knowledge of property buying procedures. A further 28% said that an advisor would have more awareness of where the smartest deal for them could be found, while over a quarter wanted to avoid paperwork and get advice suited to their situations.

Speaking to Mortgage Strategy, Accord’s Managing Director, Jeremy Duncombe, said that:

“There is a real opportunity for brokers to add value in this area of the market, but also to secure business for many years to come.”

This shows again the value of doing a CeMAP course so that you can help people seeking a first home.

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