An additional 21% of UK homeowners surveyed said they turn to online and media/news sources for their advice. Family and friends had an important role to play with 17% of those surveyed turning to them for financial advice. A concerning 4% said they get their financial advice from social media influencers.

However, the Coronavirus pandemic has prompted 27% of current and prospective homeowners to seek financial advice, according to the report from MetLife UK.

Nearly two thirds (64%) said they have not sought professional financial advice, and 38% have no intention of ever doing so. An additional 13% said whilst they have not sought financial advice yet, they may do so in the future.

When asked what their largest financial concern for the next six months is, 16% said having a reduced income. The same number of respondents were concerned about getting into debt and having to dip into savings to make ends meet.

Research was carried by Censuswide on behalf of MetLife UK among a UK representative sample of 2,000 homeowners, or those currently purchasing a property. The survey was completed in February 2021.