Consumer knowledge improving

Standard Life Bank research has indicated consumers are gaining a greater understanding of the mortgage market.

From the high-street to home-loans; the trend for “savvier shopping” has hit the mortgage industry and advisers should gear up for a more demanding breed of mortgage-hunter, according to Standard Life Bank.

Three months after the launch of its informative online movies series, Freestyle+, Standard Life Bank has analysed what would-be borrowers are looking for in a mortgage (based on movies viewed) and discovered a demand for home-loans that will work harder for them.

Freestyle+ is a set of 25 movies launched to provide mortgage-hunters with unbiased educational information to help them make better informed choices.
They are accessible at www.standardlifebank.com/adviser. Movie topics range from basics, including “How much can I borrow?” to more in depth subjects such as “Offsetting vs Overpaying”. There is an additional movie designed specifically for introducers.

Buy-to-let has attracted the vast majority of Freestyle+ visitors with more than half (55 per cent) of the total viewings. Of these, almost one in five (18 per cent) is specifically interested in how buy-to-let could help them to retire.

Cash Reserve and offsetting have also proved to be popular choices, with the latter attracting one in 10 site visitors. In contrast, fixed and discount deals are currently generating less interest among site users.