Homebuyers 'increasingly seeking advice'
Published: 16-May-2008
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An increasing number of consumers are seeking advice in making their first house purchase, reflecting the difficulties faced by those trying to get onto the UK property ladder.
That is according to new figures from the Council of Mortgage Lenders (CML), which revealed that more and more first-time buyers are seeking the guidance of mortgage intermediaries, as the impact of the credit crunch continues to put a strain on their finances.
The data showed that mortgage intermediaries are now being used by 82.5 per cent of those hoping to make their first property purchase.
Commenting on the findings, Richard Farr, director of the Association of Mortgage Intermediaries (AMI), noted that the toughening economic climate means that it is now "more important than ever for consumers to access good advice".
He commented: "Mortgage intermediaries are playing a vital role in the current market place as first-time buyers struggle to find a mortgage deal."
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