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First-time buyer queries dip 3%

Adviser search website Unbiased.co.uk says it saw a 3% fall in queries from first-time buyers, dipping from 44% in January to 41% in February.

By contrast, remortgage and residential purchase deals were static over the two months at 35% and 19% respectively.

But equity-release increased from 4% in January to 7% in February and buy-to-let enquiries rose from 11% in January to 13% in February.

David Elms, chief executive of Unbiased.co.uk, says: “With interest rates another half point down and lenders continuing to chop and change their rates and criteria, our figures confirm that borrowers recognise theimportance of whole of market advice.

“Mortgage advisers need to be ready to sup-port and inform this steadily ris-ing number of prospective first- time buyers as they research their options ahead of entering the market.”

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