13 Jun

Borrowers turn to mortgage intermediaries amid economic uncertainty

Borrowers turn to mortgage intermediaries amid economic uncertainty

Borrowers are increasingly using mortgage intermediaries to help them secure a deal, according to the Association of Mortgage Intermediaries (AMI).

It claims that ten per cent more remortgaging customers and first-time buyers used an intermediary in the first quarter of 2008, with 80 per cent of those climbing onto the property ladder for the first time doing so.

Meanwhile, the organisation stated that most borrowers (80 per cent) are primarily going to intermediaries for expert advice, compared to 20 per cent who are seeking lower rates.

Referring to the credit crunch, director-general of AMI Chris Cummings stated: "During this difficult period consumers need advice more than ever."

"Our members provide mortgage advice that is wholly focussed on the individual consumer's needs," he added.

Financial services research company NMG recently released a report which suggested that seeking independent mortgage advice rather than dealing with lenders directly could save borrowers up to £1,830 a year.
ADNFCR-1222-ID-18638540-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.