21
Apr
'Many FTBs' in search of mortgage advice
A considerable number of first-time buyers (FTBs) were seeking
mortgage advice last month, it has been claimed.
According to unbiased.co.uk's latest Advice Drivers report, such
people made up 40 per cent of all enquiries concerning home loans
in March.
This was higher than the 28 per cent recorded for those looking for
tips on remortgaging.
The price comparison site suggested that the government's decision
to raise the stamp duty threshold to £250,000 for FTBs is one
factor contributing to the trend.
Designed to stimulate the market, the move - which was put into
effect by chancellor Alistair Darling immediately - saw the cut off
point rise from its previous level of £125,000.
Unbiased.co.uk chief executive Karen Barrett remarked: "Since the
start of the year, [the] Advice Drivers report has shown that FTBs
are seriously looking into getting their foot on the property
ladder."
She added that people seeking to take this step should implement
careful planning and research.
