Following the launch of the Google Adviser mortgage comparison site in the US in May, Google is also piloting a similar service in the UK, known as Compare UK Mortgages.
The site works just like other mortgage comparison portals and has sponsored links from several lenders such as ING Direct, Woolwich, Lloyds TSB, Royal Bank of Scotland and NatWest.
To measure feedback on the site, viewers can participate in a feedback survey.
“Only time will tell how successful this service will be and what other products will be arriving in the UK,” said Justin Rees, Director of Marketing and Partnerships at LeadPoint UK.
“It will also be interesting to see how many of the direct marketers that spend millions of pounds each year generating financial services leads through Google react to this latest development.”
However, he said that it could be good for the lead generation market overall.
“Usually when Google enters a new market it requires all the incumbents to step up in order to compete so hopefully this innovation will be good for consumers and the adviser community as the current lead generation companies will have to work even harder to improve their services,” he said.
“The UK has a strong tradition of intermediary-based advice and long may this remain so.”
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