Abbey: Broker advice growing in popularity for FTBs

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Abbey: Broker advice growing in popularity for FTBs

As the years go by, an increasing number of first-time buyers (FTBs) are turning to mortgage brokers for advice, according to Abbey.

New research from the bank reveals that 28 per cent of people aged between 25 and 34 turned to an intermediary for advice on their first move - compared to two per cent of those aged over 65.

Ricky Okey, managing director of Abbey for Intermediaries, said the shift in attitudes is "promising" for the future.

"Brokers are becoming an increasingly important part of FTBs' decision-making process thanks to service and cost improvements as well as being able to offer a broader product range," he added.

In other news relating to those buying their first home, Alliance & Leicester Mortgages revealed that 51 per cent of FTBs wish to be located near the office, compared to 28 per cent who prefer to be closer to friends and family.

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