The peak times for mortgage searches online have been revealed, suggesting most people prefer to look at home loan deals in the evening.
In data provided by digital broker Mojo Mortgages, 62 per cent of customers visited its site outside of office hours - 9am to 5pm, Monday to Friday - with 44 per cent of customers searching later in the day between 5pm and 10pm.
Mojo Mortgages reported its website traffic jumps by an average of 48 per cent at 5pm each day.
Richard Hayes, co-founder and chief executive at Mojo Mortgages, said the data suggests consumers have time-constrained needs that can no longer be met by the traditional broker model.
He said: "People do not want to have to take time off work to go to a broker's office, and they do not expect to have to pay for advice.
"The fact that our traffic peaks outside of office hours shows there's a need that cannot be met by traditional brokers, and that consumers are now comfortable transacting online, especially if it is easier, more convenient and free."
Last month Mojo Mortgages reported it had saved its 3,065 customers more than £1.5m in broker fees since its launch in April, by offering a free online service.
Mr Hayes said Mojo Mortgages was created out of frustration with the traditional broker model, with fees contributing towards that frustration.
He said: "We think everyone should have access to free and impartial mortgage advice."
Dale Jannels, managing director at All Types of Mortgages, said he believes that while online works for some, he is still finding the majority of people want a choice.
He said: "They want to be able to see someone face-to-face and especially to discuss a complex or lending in to later life type scenario. There is no issues with arranging a meeting whether it be in or out of normal working hours, or on a Saturday.
"However, the majority of information fact finding and advising tends to be done over the phone or via emails and despite the innovations in technology, I cannot see this changing for some time yet.
"People buy people. And, like with accountants and solicitors, those who are advising may charge a fee but they will stand by it and customers are happy to pay for such valuable advice on the biggest debt they are likely to ever have."
rachel.addison@ft.com
