People 'use the net to look for mortgages'
Published On 17 September 2007
While people are typically happy to research their mortgage online, they usually want to complete the deal in person, an industry expert has said.A spokesperson for Charcol said that there was "an increasing trend" for people to use the internet to look at all the available mortgages.
However, he added that it was typically only people who already had some experience of online mortgages that went on to completely arrange their finance over the internet.
"With the largest financial commitment we make, a lot of people are incredibly nervous about going the whole hog and arranging their whole mortgage online," the spokesperson explained.
"It's something that is much more for the experienced buyers out there. We find that a lot of buy-to-let buyers like to arrange their mortgages online because it an investment and it's all about keeping costs down."
"A lot of people start the process off and get a fair way through it but, as ever, human nature kicks in at the end and, especially when you are faced with that final press the button moment, you think 'am I doing the right thing here?'"
Recently, moneysupermarket.com warned that many mortgage lenders were increasing their rates, despite the fact that the Bank of England opted to keep interest rates at 5.75 per cent this month.
