First-time buyers prefer to turn to family and friends than to professionals when it comes to obtaining advice on mortgages, a new report has revealed.

According to research carried out by the Abbey, 23 per cent of UK first-time buyers used their friends or relatives as a primary source of information on home loans, while just 13 per cent of those questioned claimed to have used a mortgage broker.

However, once buyers have done the initial research and obtained primary advice, there is a growing demand for professional and independent advice, the study also found.

In comparison to the two per cent of over-65s who stated that they used a broker when they bought their first property, 28 per cent of 25-34 year olds used a broker's services at some stage of the home-buying process.

Commenting on the findings, Ricky Okey, managing director of Abbey for Intermediaries, said: "The results show some promising signs for the future with a shifting attitude of young first-time buyers who are waking up to the benefits of seeking advice from intermediaries.

"Brokers are becoming an increasingly important part of first-time buyer’s decision making process thanks to service and cost improvements as well as being able to offer a broader product range."

A recent study by GE Money Home Lending further revealed that many young professionals are preferring to spend their money socialising and holidays rather than on saving for a deposit for a first home.