Searches for remortgage advice increased to 35% of all whole of market mortgage enquiries in May 2012, compared to 30% in April and 30% in the same period last year.
Meanwhile, interest in first-time buying advice fell from 39% in April to 38% in May but it remains the number one advice driver on unbiased.co.uk’s mortgage adviser search.
Buy-to-let advice has increased from 19% in April to 21% in May and the number of searches are 1% above average compared to monthly numbers of enquiries over the last 12 months.
Karen Barrett, chief executive of unbiased.co.uk,said: “It comes as little surprise that the recent rate rises by lenders have driven a renewed interest in searches for remortgage advice as consumers contemplate switching to a better deal in an attempt to save money.
“We have already seen a number of lenders including Halifax, Bank of Ireland, Yorkshire and Clydesdale Banks, RBS and Co-operative Bank increase their standard variable rates, leaving over a million borrowers with higher mortgage payments.
“Although current mortgage rates are still significantly lower than they were five years ago, a small percentage tweak here or there can make a big difference to your overall expenditure.
"The prospect of more mortgage rate price hikes on the horizon is also a concern, particularly as the window of opportunity to switch to a cheaper deal may be closing fast."
