View more on these topics

Websites frustrate borrowers

Irrelevant and inappropriate websites are a turn-off for borrowers looking to make online mortgage applications, says online user experience consultancy Foolproof.

Of 1,522 homebuyers who responded to an online poll, half said they intended to apply for their mortgage online in the next 12 months.

Foolproof followed up the research three months later and that found hardly anyone had managed to arrange a mortgage online.

Borrowers spent an average of half an hour on their first online mortgage shopping session but most abandoned their searches due to frustration and confusion caused by websites.

Managing partner Tom Wood says: “Online shoppers’ first port of call is usually a search engine which provides listings that are largely irrelevant and inappropriate.

“Broker and comparison sites top the listings, hijacking shoppers looking for well-known brands and taking them to sites where generally they try to get their personal details for telephone sales.

“This frustrates online shoppers because one of the main reasons for using the internet is to avoid pressure sales calls.”

Recommended

Seminars for business cover

Aegon Scottish Equitable is running seminars for advisers to offer support and information on writing business protection.

PSigma fund shines in dull Isa season

Bill Mott’s new PSigma income fund was one of the big winners in what has been a broadly disappointing Isa season.Mott’s fund attracted 108m in its limited offer period, making it the most successful fund launch this year. Many advisers have reported Isa sales broadly flat on last year, with Chelsea Financial Services marginally below […]

Name game

Now I know for certain that the captains for the financial services industry have completely lost the plot.In the space of a few days, we have had Liverpool Victoria rebranding as LV=, (but we are informed that the = is silent) and now GE Life has announced its new identity as Tomorrow. I wonder if […]

The Rubik’s Cube: China’s policy trilemma

By Douglas Turnbull, Investment Director, Head of Chinese Equities China faces a ‘Rubik’s Cube’ policy trilemma, whereby it needs to sustain a minimum acceptable level of growth, deal with issues such as overcapacity and reform the financial system to make it a far more efficient allocator of capital. Given the contradictory nature of these objectives, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment