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Comparison site may end its deal with L&C

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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