Mortgage Industry News

← Back

Buy your cheap mortgage online

Date: Thu, 15 Sep 2005

Buying mortgages on-line seems to be growing in popularity with consumers wanting to buy-to-let, suggesting it is cheaper to do so.

People investing in their second home, who seem to have the most experience in the property market, are starting to favour online mortgage products, according to Charcolonline.

The firm has witnessed an increase of online applications from 14 per cent in July to 17 per cent last month.

Overall, online mortgage purchases have increased by 17 per cent, it added.

"I think it is clear that more and more borrowers are becoming very astute in the way they arrange their mortgages," said Drew Wotherspoon at Charcol.

"Buy-to-let, after all, is about yields and profit, so arranging a mortgage online makes logical sense. We are dealing with experienced professionals who know and follow the market, so I am not surprised that a greater proportion are going online to arrange finance."

Mr Wotherspoon suggested that first time buyers currently were "shy" to buy, making the buy-to-let market even more attractive.


© 1998-2005 DeHavilland Information Services plc. All rights reserved.

Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.