Number of Consumers Seeking Mortgage Advice Rises 24% in First Half of 2010

Share Article

Despite ongoing worries over the state of the British economy, the green shoots of recovery seem to have set a firm foothold within the mortgage market, as IFA Promotion reports a 24% increase in mortgage advice inquiries.

IFA - Independent Financial Adviser

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.

The latest stats from the professional service website unbiased.co.uk show that the signs of a recovering mortgage market in 2010 is growing. As over 45,000 high quality leads for mortgage advisers were generated through their site in the first half of 2010, mortgage advisers are urged to increase their focus on marketing activity in order to benefit from the surge in users seeking mortgage advice.

Despite ongoing worries over the state of the British economy, the green shoots of recovery seem to have set a firm foothold within the mortgage market. In the first half of this year, unbiased.co.uk, the professional advice website (also known as IFA Promotion), recorded a 24% increase for consumers looking for advice from a whole of market mortgage broker, compared to the same period in the previous year.

Unbiased.co.uk, which hosts a ‘find a mortgage adviser’ search on its website, received over 45,000 enquiries for mortgage advice in H1 2010, with first time buyer advice coming top of the enquiries received. The first half of 2009 in comparison, saw just over 36,000 enquiries for a whole of market mortgage adviser.

Karen Barrett, Chief Executive at unbiased.co.uk comments: “The mortgage market has undoubtedly had a tough couple of years. We have seen lenders drastically restricting their lending criteria or going out of business altogether, all while interest rates have remained at a historic low. And with consumers losing confidence in the housing market and unable to get mortgages, mortgage advisers of course have also suffered from this downturn. Over the last six to twelve months however, there has been more and more good news about the mortgage market. 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.

“In parallel to these positive moves within the industry, consumers have started re-gaining their confidence in the housing 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. We believe that the tumultuous period we have been through has led to more people seeking expert mortgage advice rather than going it alone. Now is the time for mortgage advisers to up their marketing activity to be at the forefront of this regained consumer confidence.’

Unbiased.co.uk generates leads to its mortgage adviser database by matching consumers with the most suitable adviser on its ‘find a mortgage adviser’ search. Consumers are able to search the database by postcode, mortgage advice specialty, qualifications and payment options, ensuring the list of advisers presented to them is as relevant as possible, leading to high quality leads to its registered mortgage advisers.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

IFA Promotion PR
Visit website