Looking for sub-prime mortgage advice
According to research by Unbiased.co.uk, seven per cent of all requests for mortgage advice were related to sub-prime deals in October, nearly twice as many as seen in September.
The mortgages, which are perceived as risky due to their part in the credit crunch, garnered more interest from first-time buyers and home movers than high loan-to-value, flexible and commercial deals.
Karen Barrett, chief executive of Unbiased.co.uk, said: "The increase in those searching for advice from whole of market mortgage advisers on sub-prime mortgages points towards a squeezed market for those borrowers ."
The Association of Mortgage Intermediaries recently criticised a report by the Financial Services Authority which called for greater regulation to protect the mortgage market from risky practices involving sub-prime deals.
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