More People Looking For Advice On The Best Loan
It has always been a complicated issue when it comes to finding the best loan to meet a person’s needs, but over the course of the past twelve months, with the banking crisis, tighter lending criteria and lenders general reluctance to offer loans, it has been a particularly confusing market place for those people trying to find the best home owner loan to meet their needs on their own.
As a result of this, there has been a significant increase in the number of individuals seeking professional advice from an Independent Financial Adviser (IFA), or loan broker, when looking for a new home owner loan, mortgage or other personal loan, according to the latest figures from Unbiased.co.uk.
Unbiased have seen the number of people looking for an adviser through their website increase significantly over the course of the past twelve months, with 7,000 enquiries to the end of January this year, an increase of 50 per cent above the same time last year.
large proportion of enquiries came from first time buyers, with around 43 per cent of all enquiries coming from this sector. The second most popular area was remortgage enquiries from people looking for a better deal on their existing home owner loan or mortgage.
It is an encouraging sign to see more and more first time buyers entering the housing and home owner loan market, as well as people starting to think about switching their existing loan as many banks and building societies are slowly increasing their standard variable rate of interest on loans.
Karen Barrett of Unbiased.co.uk said “It is essential that first time buyers and also those remortgaging seek advice to ensure they are making the best decisions for their individual circumstances. Only a whole of market mortgage adviser can give you advice on products from across the market, which suits your individual needs and financial position.”
