Despite ongoing worries over the state of the British economy, green shoots of recovery have set a firm foothold within the mortgage market in the first half of this year, according to
unbiased.co.uk, the free and confidential UK-wide search matching consumers with local professional advisers.
In first half of 2010 the professional advice website, recorded a 24 per cent 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 the first half of 2010, with first time buyer advice coming top of the enquiries received.
By comparison, the first half of 2009 saw just over 36,000 enquiries for a whole of market mortgage adviser.
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.
"The mortgage market has undoubtedly had a tough couple of years,” said Karen Barrett, Chief Executive at
unbiased.co.uk.
“We have seen lenders drastically restricting their lending criteria or going out of business altogether, all while interest rates have remained at an historic low. And with consumers losing confidence in the housing market and unable to get mortgages, advisers of course have suffered from this downturn too.
“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 advice on their mortgages rather than going it alone, a very positive sign for consumers and mortgage advisers alike.
“Now is the time for mortgage advisers to up their marketing activity to be at the forefront of this regained consumer confidence.”
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