Mortgage study provides insight into house hunting mindset by Finance News Bulletin

Published: 16/03/07

A new mortgage learn has lifted the lid on how long buyers generally search for their vision home, in news that may be of interest to first-time buyers saving for their first mortgage According to research from Smile Mortgages, 33 per cent of home hunters take less than three months to find their prospect homeMeanwhile, 43 per cent admit that they viewed less than five properties before deciding to take the plungeAt the other end of the spectrum, however, one per cent of homebuyers confessed that they had visited more than 100 properties during a much more protracted look for period

Commenting on the findings, John Barker, skull of mortgages at the financial services provider, recognized that home hunting can turn out to be a "stressful experience""However, if people plan in front with regards to their finances, it will allow them to feel much better prepared for when they do eventually find their perfect home," he optionalEarlier this week, financial services specialist National Savings and Investments in print research into the first-time buyer marketIts review indicated that 25 per cent of people looking for their first property would consider touching abroad for a few years in arrange to save up the money needed upfront for both a house put and mortgage charges

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