Boom in online mortgage comparison.
More borrowers are turning to online mortgage comparison websites when looking for mortgage deals. The idea of borrowing money through an internet transaction is not new, but consumers are finding that the growing power of social media is helping them find a comfort zone.
With the growing demand for online mortgage comparison lenders are under increasing pressure to to perform well. With social media sites leaving visible every commented upon failed customer experience, a track record of ineptitude can mean a lender is unlikely to succeed in the online marketplace.
The ability to comparison shop and see what others offer has been great for the concept of online mortgages. Mortgage lenders that focus on the web to draw their customers, stake their business on being more affordable and providing a better user experience. The online mortgage marketplace has come a long way since the early days and now all mortgage lenders have an online presence.
The trend is towards online mortgage lending and there is a growing expectation among consumers that this should be like that of any other financial services transaction. However, it can be great challenge for some borrowers to deal with something as important as a mortgage online. Some will have lots of questions and will need their 'hand held' along the way. The challenge for any online mortgage comparison site is to have someone to turn to when a question needs answering.
