A new study has revealed that first time buyers remain the mortgage market's top 'advice driver'.
First-time buyers are still the mortgage market's most common source of enquiries for loans, according to a new report.
The latest Advice Drivers study by unbiased.co.uk reveals that 2010 could see increasing levels of first-time buyer activity as buyers looking to gain mortgages as they take their first step onto the property ladder. According to the data, 40 per cent of all enquiries for mortgage details in March were from first time buyers.
A key factor in this figure is thought to be chancellor Alistair Darling's recent hike of the stamp duty threshold to 250,000 for first time buyers, allied to the fact that the base rate has remained at an all time low of 0.5 per cent. Also, the traditional seasonal increase in mortgages taken out seen as winter turns to spring has had an effect as statistics show that investors begin searching more seriously in warmer weather conditions.
Throughout March and for the first time in 2010, there was a slight dip in enquiries from homeowners looking to remortgage their property but the advice driver figure for this still remained at more than a quarter (28 per cent) of all enquiries.
Next on the list of most common advice drivers were those people seeking a residential mortgage, a figure which increased from 21 per cent in February to 23 per cent in March.
Other mortgage enquiries in March included queries on buy-to-let mortgages (14 per cent), high loan-to-value options (seven per cent) and sub-prime (five per cent).
Karen Barrett, chief executive officer of unbiased.co.uk, said: "Since the start of the year, we have seen that first time buyers are seriously looking into getting their foot on the property ladder.
"Now that first-time buyers have also been given a helping hand with the stamp duty threshold being increased to 250,000, there is more incentive than ever to start looking into the financial possibility of getting into the property market."
First-time buyers are still the mortgage market's most common source of enquiries for loans, according to a new report.
The latest Advice Drivers study by unbiased.co.uk reveals that 2010 could see increasing levels of first-time buyer activity as buyers looking to gain mortgages as they take their first step onto the property ladder. According to the data, 40 per cent of all enquiries for mortgage details in March were from first time buyers.
A key factor in this figure is thought to be chancellor Alistair Darling's recent hike of the stamp duty threshold to 250,000 for first time buyers, allied to the fact that the base rate has remained at an all time low of 0.5 per cent. Also, the traditional seasonal increase in mortgages taken out seen as winter turns to spring has had an effect as statistics show that investors begin searching more seriously in warmer weather conditions.
Throughout March and for the first time in 2010, there was a slight dip in enquiries from homeowners looking to remortgage their property but the advice driver figure for this still remained at more than a quarter (28 per cent) of all enquiries.
Next on the list of most common advice drivers were those people seeking a residential mortgage, a figure which increased from 21 per cent in February to 23 per cent in March.
Other mortgage enquiries in March included queries on buy-to-let mortgages (14 per cent), high loan-to-value options (seven per cent) and sub-prime (five per cent).
Karen Barrett, chief executive officer of unbiased.co.uk, said: "Since the start of the year, we have seen that first time buyers are seriously looking into getting their foot on the property ladder.
"Now that first-time buyers have also been given a helping hand with the stamp duty threshold being increased to 250,000, there is more incentive than ever to start looking into the financial possibility of getting into the property market."
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