Google launches new mortgage price comparison site

Monday, 10 December 2012 05:46

Google has re-launched its mortgage comparison site and promises to allow mortgage borrowers to compare each and every deal available on the market.

It will use its dominance of online search to position its comparison tool at the top of search results whenever anyone puts in a mortgage related term into their search engine.

The new price comparison tool was launched at lunchtime today. It will search separately for loans only available through brokers as well as those offered directly by banks and other lenders.

In total, Google says it will compare around 5,000 different mortgage deals in any one search. Improved functionality should see users able to get a more personalised list of results as they will be able to enter more information. Users will also be able to look at best-by tables for different types of mortgage deals.

Last year, Google took over BeatThatQuote in a sign that it plans on using its dominance of search engines to get a foot in the lucrative price comparison market.

Google said that it will provide the highest standards of customer service and data protection and that no personal data on users will be kept if the applicant clicks through direct to a lender and only minimal details to allow a broker to call them back.

Google said that the maximum fees that a customer would pay will be capped at one per cent of the value of the product they purchase using the new product.

All affiliates that work with Google will be required to follow a code of conduct to ensure that customers are treated fairly.

In the mortgage product, Google has agreed to be partnered by Avelo Trigold who will provide the data. It will work with ten broker partners.

In the past few months Google has launched new comparison services for credit cards, car insurance, current and savings accounts.

The launch follows Google's move into the competitive car insurance price comparison market earlier this year. It also has comparison tools for bank accounts and credit cards.

Google product management director John Paleomylites said: “Over the last few months we have launched new comparison services for credit cards, current & savings accounts & car insurance. We are now adding mortgages to our comparison family making it easier for customers to find the best deal for their individual circumstances.”


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