One financial website has revealed that a growing number of people are looking to move house, indicating that there has been significant growth in mortgage confidence.

Officials from the group said that based on their figures the number of consumers looking at taking out new mortgages was now beating the number of people looking to refinance their existing mortgages.

The website also said that the number of people looking for a mortgage to buy a property has been increasing since the start of this year, and between January and now searched for new mortgage via the site have increased by a fifth to 47 percent whereas in the same period searches for remortgages have fallen by around one third to 43 percent.

One official from the group said that the increase in consumer confidence could be down to the stabilisation of property prices coupled with a rise in first time buyers.

She stated: “First time buyers who have saved a deposit and home owners looking to step up the housing ladder may therefore be looking to take advantage of the current low price environment with a view that prices cannot fall any further.”

She added that there were some positive signs from lenders for those that were looking to get a mortgage, stating: “HSBC has just broken the two per cent rate barrier with its new range of discount mortgages available to all with a big deposit. Although many other lenders have barely recognized the dramatic fall in base rates and have kept their mortgage deals relatively expensive there are some good deals to be had, so consumers should make sure they shop around to get them.”

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