Comparison site may end its deal with L&C
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Comparethemarket.com is believed to be ending its referral agreement with London & Country and close to signing a deal with another firm, Mortgage Strategy understands.
The comparison website confirmed in January that it was reviewing its mortgage proposition.
At the time it was understood to be considering offering a standalone sourcing system that would pass leads to a panel of brokers in exchange for a fee for appearing on the site.
It is not known whether these plans are still in the pipeline but its new proposition will not involve L&C.
The comparison site is believed to have switched allegiance because it was seeking a higher portion of the commission.
David Hollingworth, mortgage specialist at L&C, says: “We knew Comparethemarket was reviewing its platform and part of that would be reviewing its commercial tie-ups. We believe it was looking for enhanced commercial terms.”
L&C recently signed a deal with Moneysupermarket.com which will see the brokerage provide telephone advice to prospective borrowers using the website.
It has a number of other partnerships with brands such as Confused.com and Tesco Compare.
Comparethemarket was unavailable for comment at the time of going to press.
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