Nearly 9m web mortgage searches made in May

Evaluate Technologies claims that more than 8.8 million mortgages searches were made in May 2009.

Evaluate says this backs up the strategies of many intermediaries as increasing numbers of firms have registered their interest in improving up their online presence.

The firm also argues that the statistics suggest that consumers are not getting what they need from incumbent mortgage comparison solutions. This is illustrated by comparing the 8.8 million search figure to the recent CML mortgage completion levels of 35,600 for April.

Paul Fradgley, CEO at Evaluate Technologies, said: “This is staggering statistic when you consider the number of actual mortgage applications generated. Indeed it’s not far from the total for all insurance categories