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mform.co.uk launches new mortgage comparison service

Online mortgage firm mform.co.uk has launched what it says is the UK’s first service to compare new and existing mortgage deals.

The service allows borrowers to compare their current mortgage against products from other lenders across the whole market to ensure they are receiving the most competitive deal.

To use the service, customers need full details of interest rates and fees attached to their mortgage.

The firm says the service takes into account early repayment charges and arrangement fees to show how much borrowers will save or lose if they change provider.

mform.co.uk marketing and business development director Frances Ghiloni says: “Mortgage companies are making increasing use of churn management systems to retain or discard customers. and have restricted the availability of deals to so-called good risks. Plenty of creditworthy borrowers are being disadvantaged and shouldn’t be.”

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