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Charcol bolsters £1bn website

Charcol is marking the milestone of £1bn of online mortgage business with a revamped version of its charcolonline website.

The website, launched in November 1999, accounts for a third of all mortgages arranged through Charcol.

The site will gather more data about a client&#39s personal circumstances than was previously possible.

It features a new part-interest/part-repayment calculator allowing customers for a mix of interest-only and repayment terms to view monthly payments. This feature could be of use to endowment mortgage clients who are looking to address a potential shortfall by transferring some of their mortgage to a repayment basis.

A progress tracker follows each stage of the mortgage application process while a mortgage tool can show potential savings from remortgaging.

Development director Russell Gould says: “Although the online market is still a small proportion of the overall mortgage market, the fact that one in every three Charcol customers chose to apply for their mortgage online shows there is a real consumer appetite for conducting financial affairs online if you can provide them with the right tools backed with a strong brand.

“Our revamped website is the result of two years of dialogue with our customers. We hired online design and consumer specialists to help us analyse our customers&#39 feedback and pinpoint which areas of the site needed improvement. The result is a quicker, simpler and better looking site.”

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