First-time buyer advice demand rises in April, Unbiased

First-time buyers’ demand for advice grew in April although demand for advice on remortgages fell over the same period, research from IFA promotional website Unbiased suggests.

According to the company’s most recent advice drivers report, first-time buyer enquiries rose from 37 to 39 per cent in April and is the most common advice driver for consumers looking for whole of market mortgage advice.

However, interest in remortgage advice dropped from 37 per cent in March to 30 per cent in April, the data show.

Karen Barrett, chief executive of Unbiased, said: “Last year we saw a similar springtime rise in searches for first time buyer mortgage advice.

“This year despite three months of consecutive falls in searches for first time buyer advice, April has seen the first rise in demand in 2012.

“Over the last weeks we have seen lenders raise mortgage rates and tighten their lending criteria, putting further strain on people wanting to get on the property ladder, which will be a contributing factor to the rise in first-time-buyer enquiries.”