Most first-time buyers want advice: Accord

Essex Home Finance
The vast majority of would-be property buyers are in the market for advice, says Accord Mortgages.
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The vast majority of would-be property buyers are in the market for advice, says Accord Mortgages.

A recent survey carried out by the lender shows that 92 per cent of the over 2,000 people asked across the country replied in this manner, even though 65 per cent said they ‘knew the house buying process well.’

Most of the men asked – 74 per cent – said they were confident about this process versus 54 per cent of the women asked.

Buying a house remains an aspirational moment for most people – 68 per cent of those asked said that buying their first house would be a milestone in their lives, and 72 per cent replied that it doing so is ‘essential’ to them feeling successful.

Upfront costs, saving for a deposit and the cost of housing in their desired area were selected as the top three barriers to owning a home, at 34 per cent, 32 per cent, and 32 per cent again, respectively.

Accord Mortgages director of intermediary distribution Jeremy Duncombe says: “Whilst we are committed to offering our support to this sector through the limited releases of 90 per cent LTV products, we know the restricted availability of low-deposit mortgages will present a challenge for some buyers.

“Having a broker to explore all the available options and guide you through the process is crucial to secure the longer term financial wellbeing of these customers.”

Original Article from Mortgage Strategy 14/10/20

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Essex Home Finance

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Address : 8 Kingsdale Business Centre, Regina Road, Chelsmford, Essex, CM1 1PE

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE.

Registered in England & Wales under number 10607263.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We do not charge for Residential First Time Buyers, Residential Home Movers, Residential Remortgage, and all Product Transfers (Residential or Buy to Let).

There will be a fee for all Buy to Let Purchase and Buy to Let Remortgage cases. Typically our fee will be £149, payable on Offer. We will agree any fees with you before we proceed with your case.

There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. 

Our advice is covered under the Financial Ombudsman Service.  You may be able to submit a claim through the  EU Online Dispute Resolution Platform If you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.