This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.

Google axes UK mortgage plans

  • Print
  • Comments (4)

Google has scrapped plans for a UK mortgage comparison service after closing its US version.

Google Advisor Mortgage was set up in the US two years ago and came to form part of the online Google Advisor website in July, which allowed investors to search and compare financial offers from a range of providers. Google also offered mortgage comparison services in other countries.

It launched a UK trial version of the service in July under the name UK Compare Mortgages. The website was suspended in September with a message saying it was being revamped.

Google has confirmed it began scaling back the service globally in November and closed it completely this month.

It says the service was not as successful as it had hoped. A spokesman says: “We have been prioritising our product efforts, which means taking a hard look at products that have not been as successful as we would have hoped. We have closed down the mortgage search feature.”

Last March, Google bought comparison site Beatthatquote. com for £37.7m, which includes a mortgage quote service.

London & Country associate director of communications David Hollingworth says: “A lot of comparison firms pay Google to get traffic through its search engine and this would appear to be in competition with that.”

  • Print
  • Comments (4)

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Readers' comments (4)

  • I wonder how many other compare sites will be closing down due to recent changes to mortgage regulation, requiring customers to receive advice from 2013 onwards. At least the regulator is doing one thing right in supporting advice models.

    Unsuitable or offensive? Report this comment

  • In the current marketplace, people are struggling with tougher lender criteria across the board.

    Gone are the days when anyone could obtain the cheapest rates, now they need advice from a good broker to get the deal done - and that cannot be found on any price comparison site.

    Unsuitable or offensive? Report this comment

  • This is good news for the broker. Hopefully it will help the issue of dual pricing in the long run. If lenders need to get their volumes they know they will need to turn to the humble broker again.

    Unsuitable or offensive? Report this comment

  • ... But google sold its finance leads to its brokers and still does via beat that quote. little change IMHO.

    Unsuitable or offensive? Report this comment

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick


How do you plan to vote at the general election?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments