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Broker bidding system launched for mortgage leads

Mortgage brokers will now be able to bid for leads under a scheme developed by Paaleads.com.

Intermediaries can submit a bid and the higher the offer the more chance they have of receiving the number of leads they want in their chosen area as quickly as possible as the system gives priority to the highest bidder.

Lower bidders will have to wait until those above them receive their leads but they will only be invoiced once successful.

Brokers can also specify from which areas or districts they want the leads to come from.

The leads are generated from Moneysupermarket.com where a customer has asked for independent financial advice, though Paaleads is in talks with other websites to extend its offering in future.

Paaleads head Vanessa Blount says: “This will help brokers generate leads and it will all be done transparently. Brokers can specify how many leads they want and they can control how much they spend so they are in charge of their lead flow and look after their finances.”

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