The research showed almost three-quarters of first-time buyers cited convenience as the reason they use the net as their main source of information on getting a mortgage. Only 3 per cent of the group chose to go online to benefit from better mortgage deals.
However, over a third of people still seek face-to-face contact with their preferred lender or broker.
Paul Cooper, head of mortgages at Alliance & Leicester, said: “It is interesting to note that only a small minority are aware that they could benefit from better deals by going online.”
Karen Barrett, marketing director at IFA Promotions, said the use of the internet by potential borrowers is a growing trend. “Looking for information online is an easy way for people to research products as they can get the details instantly without having to ring up.”
Mike Fitzgerald, sales director at Brentchase Financial Services, said: “The internet will only give first-time buyers a limited amount of information. Products are getting increasingly technical so can’t be explained properly online. The internet is not a threat to brokers as clients will always want the reassurance of personal advice.”
