A Cornish financial advice firm has been pleasantly surprised to see an increase in the number of people taking out mortgages.
The national picture is very different to the one Worldwide Financial Planning has seen, which shows a clear improvement from 2009 to 2010.
Many of the transactions that took place were remortgages or refinancing deals.
Independent financial adviser at Truro and Wadebridge based Worldwide, Ronan Marrion, said: “It is true to say that in general fewer people are buying new properties; however, we are finding that customers are learning to be wiser with their finances.
“Remortaging your home is often a very good way of taking advantage of the best deals currently being offered.
“Equally refinancing has proved to be a great option for anyone who has decided not to sell their property, but wanted to invest in home improvements or renovations.”
Worldwide has only seen a minor drop in the number of clients purchasing new properties, which again bucks the national trend.
On a national level, a recent report by www.introducetoday.co.uk, showed gross lending for house purchases fell by 55 per cent and was expected to further decline in 2010.
In comparison Worldwide saw just a two per cent drop – from 40 per cent in 2009 to 38 percent in 2010.
Worldwide’s managing director, Peter McGahan, said: “It has been a tough couple of years for the housing market, but there are people out there looking to buy and do deals.
“I think the figures that Ronan and his team have returned have shown that in Cornwall, compared to the rest of the country, there is a reason for people to stay optimistic.
Peter added that whilst normal high street lenders have had customers over a barrel with restricted lending and high fees, a broker hits every lender at the click of a button and is then able to negotiate directly with them.
He said: “I think that’s the biggest reason for the buck in trend and I can see it as the end of borrowers going into the high street and being subjected to the brutal fees and charges.”