First-time buyers are not aware of mortgage costs, so new research suggests.
A study by IFA Promotion shows that 70% of new homeowners are totally unaware of any financial products that compliment a mortgage and would certainly need financial advice regarding them.
Ignorance is however not holding them back, with 78% of first-time buyers getting an insurance or investment product to go with their mortgage .
However, mortgage advisors may not be able to provide independent advice, as they may offer ‘tied’ advice on affiliated products.
A mortgage IFA can solely offer independent financial advice over all financial products which form part of the homebuying process.
First time buyers consider life insurance policies, income protection to cover the mortgage repayments in case of illness or injury; buildings insurance and endowment policies, as well as other investment products that complement interest-only mortgages .
First-time buyer normally take out 1.4 extra financial products to complement their mortgage .
|
||||||||
|
Buying property
Selling property Estate agent fees Free property guides Conveyancing services Mortgage services See all Property Guides
 My estateagents
|
First Time Buyers Not Aware of Mortgage Costs Wed, 26 Apr 2006
     Recommended linksThe IFA Promotions Mortgage GuideHelping hands for first-time buyers More First Time Buyers Get a free quote for a first time buyer mortgage First Time Buyers Not Taking Heed of Mortgage Advice Get Home insurance for your house |
|
||||||
Site Map |
About estateagents.co.uk |
Contact |
Terms & Conditions |
Links |
Press |
Estate Agents Login | 
© 1999-2009 estateagents.co.uk
© 1999-2009 estateagents.co.uk