First-time mortgage advice 'being sought by many'

Posted: 25 Aug 2011 12:04:07 GMT

The past three months have seen more and more people speaking to a mortgage advisor for the first time.

An increasing number of individuals are searching for professional help with regard to their home loans, new research has suggested.

According to figures from Kensington, more people are seeking such assistance for the first time.

The survey revealed 18 per cent of intermediaries claimed more than 50 per cent of their clients seen in the last three months had never before consulted a mortgage advisor.

Moreover, 34 per cent of those questioned said between one-quarter and half of their customers in the period had not previously visited a mortgage broker.

Charles Morley, head of sales at Kensington - which targets mortgage seekers overlooked by the high street - said: "It is incredibly encouraging that so many intermediaries are seeing such a large proportion of clients who have never sought the help of an adviser before."

The industry figure said the findings show more borrowers are realising the advantages to be had when seeking professional help in this area.
 

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