New research conducted by the user experience design company Foolproof indicates that consumers are still getting a poor deal when it comes to arranging and purchasing a mortgage online, despite the general ubiquity of the internet in most other areas of consumers lives. The recent Online Shopping Survey, conducted by Foolproof, investigated how consumers utilise the Web in order to search for and arrange a mortgage, and it discovered that the number of people wanting to arrange their next mortgage on the Net actually doubled in the two year period between 2007 and early 2010 from 9% to 18%.

Also, with regard to sourcing their next mortgage deals, 84% of people surveyed said that they intended to use the internet to do so, with 8% looking to do so via their mobile phones to get online access to information. Almost half (45%) actually stated that they would then go on to apply for and purchase their mortgage deal online, although it appears that this seeming enthusiasm is not matched by the mortgage industry.

According to the results of Foolproof’s survey the mortgage industry has failed to make any real progress in terms of delivering a simple and effective online experience for potential customers. The founder of Foolproof, Tom Wood, explained that the economic downturn over the past two years has made consumers much more savvy and determined to find better information and deals. In terms of mortgages, he stated that consumers were looking to get a knowledgeable foothold in a changed market along with information related to the availability of various products as well as lending conditions.

He concluded that consumers were being let down and hampered by the mortgage industry’s failure to improve its online content. In conclusion, he said that this made it much too difficult for consumers and potential consumers to obtain the information they needed.

Foolproof’s survey came up with a number of tips for consumers to better utilises the information and tools available online. First, they advise persistence. Remember that the mortgage market has changed dramatically in just the last couple of years, and it is important to stay up to date with regards to all news and changes. There are currently a number of different mortgage websites being run that contain useful, daily updated information about the market. They also recommend being as specific as possible with regards to the kind of mortgage you require, a this will help you to get the information you need that much faster. Use specific search phrases like ‘first-time buyer‘ and ‘four-year fixed-rate mortgages‘ to make your search faster and the results more relevant.