A mortgage deal is only a click away

Searching online for a mortgage has three advantages over trawling the high street or using the telephone - speed, choice, and interactivity.

Speed, because in minutes you can be looking at a range of possible mortgage deals. Choice, because the lenders in the best-buy tables are all vying for your custom, and interactivity, because you can keep changing your online search criteria - amount borrowed, percentage of the property value, and type of loan - until you have found a product and a rate that is suitable for you.

Most online brokers do not charge arrangement fees whereas most of the large mortgage brokers hit borrowers with 1% of the amount borrowed.

One of the speediest options is to use an online mortgage broker. There is a list of mortgage brokers and lenders at www.find.co.uk/mortgages.

Among the most comprehensive mortgage broker sites are those run by Charcol, Moneynet and MoneySupermarket, which collate mortgage information and offer best buys, some of them exclusive.

For example Charcol allows you to apply via the internet - this way you don't pay the normal fee. Be aware, however, that you may have to pay a commission fee if you apply online but call them during the process for advice.

MoneySupermarket has more than 4,000 mortgage products within its search engine, and it offers information on finding the best deal. It also runs a part of the site called the "mortgage auction" where you can get lenders to compete for your custom - but you need to be looking for a mortgage of £150,000 or more.

If you use a mortgage comparison tool you will be asked to specify what sort of deal you are looking for. You can change the criteria as often as you want. The search box will then give you a list of mortgage deals which most closely fit your requirements.

The internet also provides a reference for those intending to remortgage or to compare whether their current mortgage deal is competitive. Paragon Mortgages has a series of downloadable spreadsheets and calculators to see if it is worth switching.

Arranging a mortgage is only part of the home buying process. It can take months to find the home you want to buy.

But don't confuse the search for a good mortgage with the actual process of signing up for a loan - it is impossible to complete all the paperwork needed for house purchase or remortgages online - and there is no guarantee that the web will be cheapest.

One new website even warns against online application. Moneyquest.co.uk provides the customer with comparison and pricing information that can be followed through with a freephone call.

• Marianne Curphey is the author of E-cash, a step by step guide to managing your money online.