Research from Mortgage Advice Bureau showed 40% of people looking to remortgage do research online between 10pm and 6.59am.
Just 23% search between 7am and 11.59am, 22% between 12pm and 4.59pm and 14% between 5pm and 9.59pm.
Brian Murphy, head of lending at Mortgage Advice Bureau, warned there may be a misconception that the necessity to deal with remortgaging outside of working hours means borrowers can’t use a broker.
He said: “Using a broker can avoid late night panics that apparently lead many homeowners to stay up late searching for a remortgage deal.
“Spreading the search wider than your existing lender will help you make the most of what is available across the whole market. Competition is high in the remortgage market and brokers are best placed to help you identify the best deal from thousands of products.
“They are also not confined to a 9-5 working day, meaning you can get advice at a convenient time for you and even at a location of your choice.”
MAB’s research also showed that purchase borrowers are increasingly looking for longer mortgage terms with one in five opting for a 30 year term in Q2, an 8% rise from the previous year.
Remortgage borrowers however are looking to repay loans sooner with 13% searching for a term between 15 and 24 years.
The findings come from analysis of data from over 250,000 monthly product searches via price comparison websites powered by Twenty7tec.
