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Mortgage activity drives consumer demand for whole of market advice

Searches for advice on personal retirement planning from an independent financial adviser remained in demand, driving 38% of enquiries from consumers in July and investment and savings remained the second most sought after area of advice at 26%.

Consumer searches for advice on ISAs, OEICs and Unit Trusts remain up on last year, driving 11% of the searches using unbiased.co.uk’s "find an IFA search", compared to 8% in July 2010.

Karen Barrett, Chief Executive of unbiased.co.uk, said: "There are an increasing number of new mortgage products arriving on the market and with the base rate still remaining at 0.5% it’s a good opportunity for homeowners to be looking at their options and our figures are suggestive of this. Reviewing mortgage products could benefit homeowners financially and it’s important that both first time buyers and those re-mortgaging seek professional advice to ensure they are taking the right approach and are informed about all the products available to them from a whole of market mortgage adviser.

"Workplace pensions remain firmly under the spotlight – the conclusions from the Workplace Retirement Income Commission show consumers could still be left struggling financially in retirement, even with introduction of auto enrolment and the National Employment Savings Trust scheme, which is why it’s so important for people to get help with their personal retirement planning and understand the benefits of seeking independent financial advice, preparing them for the long term."

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