View more on these topics

Comparethemarket.com may bring in loan sourcing system

Comparethemarket.com is tipped to be planning a mortgage sourcing system which will provide brokers with customer leads.

Customers are currently transferred to broker London & Country after filling in details on the website.

However, it is thought that the comparison website is looking to use a sourcing system which would pass customers on to a panel of brokers who would be charged to be involved in the process.

First Action Finance head of communications Jonathan Cornell says the website’s move may be the result of a possible reluctance of the public to commit to a deal with a single-firm referral.

He says: “By referring to a panel of brokers, it will make sure that all of those brok- ers on that panel are kept on their toes.”

Cornell adds that by using a panel of brokers, Comparethe market.com would be better placed to satisfy demand in busy periods.

Comparethemarket.com commercial director Jeremy Moll would not comment on the plans specifically but says: “I can confirm that we are reviewing our mortgage pro-position and that this process is ongoing. I am unable to give any further details at this point.”

Recommended

5

Will Virgin bank sell through brokers?

Brokers say it not clear if they will benefit from Virgin Money’s entry into the banking sector. Last week, Virgin revealed it had reached an agreement to buy Yeovil-based Church House Trust for £12.3m which it will use as a platform for a retail banking launch. The deal brings Virgin 3,000 customers and a UK […]

Aberdeen gets alternatives’ boost in £84m deal with RBS

Aberdeen Asset Management has agreed a deal with Royal Bank of Scotland to buy part of its asset management business for £84.7m. The acquisition sees £13.5bn of assets pass to Aberdeen, including the multi-manager and fund of hedge fund assets. Some private equity and real estate fund of funds are also part of the deal, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment