Mortgage brokers report 25% jump

Published on Monday 26 July 2010 16:25

FINANCIAL advisers saw a 25 per cent jump in the number of people contacting them for help with a mortgage during the first half of the year, figures showed yesterday.

Around 45,000 people used professional advice website unbiased.co.uk to find a mortgage broker during the six months to the end of June, up from 36,000 during the same period of 2009.

First-time buyers were the most likely to be looking for help navigating the mortgage market from a broker.

The group said the rise in enquires relating to mortgages showed that consumers were starting to regain confidence in the housing market.

But it added that the increase also reflected the fact that the mortgage market was now more complex than it was before the credit crunch.

Karen Barrett, chief executive at unbiased.co.uk, said: "We have seen providers re-enter the higher loan to value market, more competitive deals to new and existing borrowers are re-appearing and new providers are entering the market.

"Our latest statistics are a very clear sign that it is not just the market that is on the way to recovery but that consumers are back, actively seeking to explore their mortgage options."