Enquiries from first-time buyers about mortgages are the most common form of request for help experienced by mortgage advisors at present, it has been stated.
A poll by finance website Unbiased.co.uk found that 43 per cent of requests last month were to do with first-time buyer mortgages, with remortgage queries in second place on 30 per cent, down from 33 per cent in June.
Chief executive of the site David Elms remarked: “These July figures suggest that after a slight drop off last month, there is regained interest from first-time buyers thinking of entering the market.”
The best bet for those taking up a mortgage may be a tracker deal rather than a fixed-rate product, it was suggested last week.
Head of mortgages at Bestinvest Peter O’Donovan said such rates ought to remain “pretty stable” for the foreseeable future, given that the Bank of England is not expected to tighten its monetary policy for some time yet.