Consumers 'are increasingly asking for mortgage advice'
Published On 19 May 2008
The majority of mortgage brokers believe that they are now being asked for more advice about the products currently available to consumers, a new report has claimed.Figures released by Alliance & Leicester showed that 76 per cent of brokers feel that clients now want more information and advice when picking the best mortgages.
What's more, 47 per cent of mortgage brokers said they now provide clients with more insight and thought than they did six months ago.
Almost half (48 per cent) said this was because consumers were less confident in the house market and 22 per cent revealed people looking for mortgages were unsure about the overall health of the economy.
"Borrowers are becoming increasingly aware of the importance of making the right mortgage choice and that they can take advantage of brokers' wealth of knowledge to ensure this," explained Raj Uppal, director of mortgages at Alliance & Leicester.
"Instead of simply using a broker to source products, borrowers are now making the most of their advisory services to learn about affordability and extend their product understanding."
"Mortgages have hit the main news agenda in recent months and this has perhaps led to more people questioning brokers about the different aspects involved in taking on a mortgage."
