More than a third of first-time buyers hope to buy within a year – but many don't know where to start. Despite recent economic challenges and volatility in the housing market, 35 per cent of the 1,000 aspiring first-time buyers polled hope to purchase a home within the next 12 months.
But three-quarters (76 per cent) are yet to consult a mortgage broker – and are instead seeking advice from parents (29 per cent), friends (24 per cent), and their bank (24 per cent). It also emerged almost half (47 per cent) feel there is not enough advice available to support them on their home-buying journey – and 38 per cent wish they had been taught more about it when they were younger.
When it comes to seeking advice from a broker, a third didn't feel they were far enough along their savings journey to make that step, and 23 per cent didn’t know what to ask. And three in ten (31 per cent) would be more likely to seek professional advice if it was free – with 24 per cent believing they were unable to afford it.
