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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.”

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