Those looking for a mortgage deal, especially for the first time, are looking at a "steady" market, according to the National Association of Estate Agents (NAEA).

It may interest those looking to buy a house that there was a drop in house buyers on the books of agents between January and February, which could be attributed to the conditions of the financial markets.

President of the NAEA Stewart Lilly also spoke about the need for intervention by the Bank of England which can reduce interest rates.

"We also trust that our new housing minister will recognise this factor before she brings in first-day marketing and [home information packs] - another factor in the current market," said Mr Lilly.

Mortgage broker Cobalt Capital has commented on the findings, with partner Andrew Montlake explaining that it appears as though the mortgage situation is akin to that of 15 years ago, when they were harder to obtain, highlighting the need for financial preparation and research.


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