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Look online for your UK mortgage

Date: Tue, 13 Sep 2005

Recent data has revealed that more people are looking for mortgages over the Internet.

Information from Charcolonline, the UK's leading online mortgage broking service, which attracts more than 200,000 unique users a month, shows that online buy to let deals increased from 14 per cent in July to 17 per cent.

Charcolonline also found that remortgaging has accounted for 53 per cent of online borrower activity over the past six months.

Drew Wotherspoon from John Charcol explained: "I think it is clear that more and more borrowers are becoming very astute in the way they arrange their mortgages.

"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."

Home movers also made up 18 per cent of online mortgage deals in August, a slight increase on figures for July.

Charcolonline's data also painted a hugely insightful picture of the average online borrower, with the average age of borrowers shown to be 37, while 74 per cent of all borrowers were male.

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