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A new study has found that nearly half of all consumers looking for a mortgage adviser were first-time buyers in April, proving how important advice is to those who have never had a mortgage.

The study by Unbiased.co.uk found that many people looking for help with their mortgage were first-time buyers, while nearly a third were those looking to re-mortgaging, as homeowners continue to seek advice on the best deals, releasing equity and whether to fix or not to fix in the current climate.

The mortgage market is always confusing but right now we are at a cross roads as cheap trackers compete against low rate fixed mortgages. There is also an explosion in offset mortgages, as well as constant demand for buy-to-let mortgages – all of these need some sort of professional advice.

David Elms, chief executive of Unbiased.co.uk, says: “Last month’s study demonstrates that as first-time buyers and homeowners find themselves confused by the continually changing mortgage market, they are putting their faith in whole of market mortgage advisers.

“In the current climate, consumers need expert advice to get the best deal for them and a whole of market mortgage adviser is best positioned to serve these needs. Only whole of market mortgage advisers can give you advice and recommend solutions and products from across the range of mortgage providers.”

First-time buyers need a helping hand – there are so many facets and caveats to mortgages that people, especially those who have never experienced home loans before, can be confused and can lose money. A professional adviser will hold a first-timer's hand through every step of the process, from application to completion and beyond.

SOURCE: Unbiased.co.uk, 17/06/09

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