First-time buyers 'making moves' into the housing market

Chief executive of the finance website Karen Barrett noted that the increase of the stamp duty threshold to £250,000 may have given many potential homeowners the impetus they needed to look into buying a property.

She stressed that it can be advisable to take on the help of a whole-of-market mortgage professional, who can aid individuals through the "mortgage maze".

"It is essential that both first-time buyers and those looking to remortgage seek professional advice to ensure they are making the best decisions for their individual circumstances," commented Ms Barrett.

The finance expert pointed out that there are many different costs to consider when buying a house and an advisor can help to pick the right plan.

Recent research by unbiased.co.uk indicated that 24 per cent of borrowers are not clear on how much the additional expenses associated with homeownership will end up costing them.