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By: Jessica Darnbrough
More than 40 per cent of first home buyers will use a mortgage broker as their first point of contact.
According to Mortgage Choice’s latest first homeowner survey, 41 per cent of respondents said their favoured first point of contact for mortgage advice was a mortgage broker, while 22 per cent said they would go to their parents first.
Mortgage Choice commissioned the independent online nationwide survey in late February 2010, asking a range of questions to people who had purchased their first home between late February 2008 and late February 2010.
The survey also found that the majority of first home buyers were coping well in the rising rate environment.
Mortgage Choice spokesperson Kristy Sheppard said while there had been much speculation about the resilience of recent first homeowners, the survey results show the majority are confident, prepared and aiming for a long-term property investment strategy.
“With further rate rises expected as early as next week, it is pleasing to see 64 per cent of the recent first timers surveyed were creating a financial buffer by making extra loan repayments,” Ms Sheppard said.
The financial services regulator is working on “alternative arr...
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