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Mortgages and loans 'a key advice issue'

A number of consumers chose to seek advice on mortgages and homeowner loans last month, new figures have revealed.

The study by Unbiased.co.uk revealed that one in ten people who sought advice during February wanted information about mortgages, making it the third most popular driver during the month.

Personal retirement planning was the top issue, with 39 per cent seeking guidance on pensions and other issues. In addition, investment and savings accounted for 28 per cent of visits to advisers.

Karen Barrett, chief executive of Unbiased.co.uk, said the data was encouraging.

He explained: "Consumers continue to see the value of specialist product advice when they are embarking on complex and long-term financial decisions such as pensions and investments."

Moneysupermarket.com recently suggested that borrowers should consider switching to an offset mortgage deal in the current financial climate, as it would see the loan paid off earlier and the interest accrued would be less than normal.