Evaluate has reported that the recent demise of mform.co.uk has led to a number of interested parties clamouring for its system to fill the void left by the mortgage comparison site.
The demand is proving so strong that the technology specialist is having to increase the number of broker partners capable of managing the growing client generation.
It is actively seeking broker firms that excel in managing phone/email-based relationships.
Evaluate offers a mortgage comparison service for companies that are able to generate volumes of clients seeking a mortgage. The service enables clients to source and apply for a mortgage online, whilst encouraging the consumer to contact a mortgage broker throughout the process.
The service is proving popular with consumers, who like the opportunity to have more involvement in the process, and brokers, who find that conversions are much higher than the traditional lead purchase models.
Julie Speed, national accounts director at Evaluate Technologies, says: “It is always sad to see a firm like mform.co.uk going into administration, but unfortunately it does emphasise the requirement for most mortgage comparison services to up their game.
“The old way of working is increasingly unacceptable to brokers and consumers which are reflected in the price of mortgage leads in the current market. Comparison sites need to offer consumers the tools to conduct some of the research themselves, whilst ensuring they are able to speak to a professional qualified adviser at any time.
“Sites that continue to offer brokers tepid mortgage leads from dissatisfied consumers may well find that this begins to have a negative impact on other areas of their business as both communities migrate to comparison sites that offer the service they require.
“Lots of the brokers that we are talking to are looking to adjust their businesses away from relying on non-converting leads to a more dependable and diversified income stream. This is the future for mortgages online.”