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CML says e-commerce will co-operate with existing channels


The Council of Mortgage Lenders is predicting e-commerce and established mortgage distribution channels are set to work hand in hand.


The CML is dismissing fears that e-commerce ventures will marginalise traditional distribution channels, claiming the two will cooperate and not compete with each other.


The E-Commerce and the Internet report written by John Gilbert says, that even in the US where online mortgages are more sophisticated and decisions are made quicker, customer take-up remains flat.


Gilbert says despite the internet being popular as a source of information in the UK, few people are comfortable purchasing complicated products electronically, looking instead for a personal service.


He says many people will be attracted to established brand name organisations that can offer a variety of ways of communicating, from internet and telephone through to face to face branch service.

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