UK: MONEYNET ABANDONS ONLINE MORTGAGE SERVICE
Article Abstract:
Personal finance website Moneynet has abandoned online mortgage deals due to low take-up, with the company believing that customers want the reassurance of dealing with a qualified adviser. Research indicates that just 4% of mortgage-seekers in the US apply online, with just 1% of these applicants proceeding with their mortgage online. Moneynet has subsequently formed a deal with the Inter-Alliance IFA network to offer customers the opportunity to talk to an IFA as an enhancement to the existing research and information facilities available on the site.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: Mortgage Next to enter personal loan market
Article Abstract:
National mortgage network Mortgage Next is planning its first move into the personal loan market, claiming margins are being squeezed on conventional mortgage products. Halifax's unsecured personal loan with an 11.9% typical annualised rate is being piloted by the network in 2002. The interest of brokers is being ascertained at roadshows, with over 350 financial advisers reportedly expressing an interest. The product, which was formerly only available directly, is available for loans of between GBu 500 and GBu 15,000.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: STANDARD LIFE CONSIDERS BAN PLANS
Article Abstract:
Standard Life Bank may introduce a ban on frequent remortgagers, refusing to deal with clients who have been with their previous lender for less than two years. The move is being considered in an attempt to eliminate customers who change lenders frequently in an attempt to obtain a better deal.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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