You are here: Home - Remortgage - News -

Internet is consumers’ first port of call for mortgage advice

0
Written by:
23/10/2012
Consumers are increasingly turning to the internet to research mortgage products, according to Legal & General's mortgage mood survey.

Potential mortgage customers across the country were surveyed, with 34% of respondents saying that the internet was their first port of call when researching mortgage products.

 
Mortgage advisers came out on top when asked where provided the best mortgage tips, with 53% saying they would use a broker compared to just 21% consulting their lender.
 
Nearly half (46%) of respondents said they would consult their family and friends for mortgage guidance. Numbers varied across the country with 68% of consumers in the East Midlands happy to consult a mortgage broker compared with just 44% in the North West.
 
The survey also found that 40% of homeowners thought the needs of their family would be the biggest influence when choosing to buy a new home, with 9% adding that spending time living in rented accommodation had forced them to delay purchasing a property.
 
Ben Thompson, managing director of Legal & General Mortgage Club, commented: “The results of this survey are extremely interesting when it comes to identifying where people go to get information on mortgage products.
 
“Both the internet and word of mouth are clearly key resources for a lot of people, especially those who are under 35, likely to be first time buyers, and with little, if any, previous experience in obtaining a mortgage.
 
“With an abundance of confusing terms and misleading reports out there, it is important that advisers and lenders can still service this group by doing as much as possible to provide them with convenient ways to access the correct information on products, in clear and easy to understand language.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Sorry. No data so far.

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Read previous post:
Bridging loans

If you have to buy a property before you have found a buyer for your existing home, you will probably...

Close