The website www.themortgagemaze.com is a mortgage reference site aimed at consumers, with the mortgage/ remortgage enquiries generated then distributed to independent mortgage brokers. The site’s content will be constantly updated and will include consumer guides such as ‘A first-time buyers guide to housebuying’ and ‘A guide to buying-to-let’.
Jim Gillespie, the founder of the website, insisted that all brokers who register to receive enquiries from the site are independent. This is checked by gaining proof of their FSA number and a copy of their Initial Disclosure Document (IDD) before they are accepted.
Gillespie said: “As a broker myself I have spent thousands of pounds on internet mortgage leads. While I have gained some good clients from this exercise, the conversion ratio of leads to appointments has always been poor and the cost of these leads has been high.
“What I’m trying to achieve with my website is to be able to supply intermediaries with good quality mortgage enquiries at an affordable price. We qualify the enquiries as much as humanly possible on the site before they are then dispatched electronically to the broker as a lead. I believe our leads will be the most cost-effective in the country.”
The website charges one set fee for all leads irrespective of enquiry types – first-time buyer, remortgage, adverse, buy-to-let – or the value of the property or mortgage. The standard fee is £20 with no VAT to pay.
Noel Ranson, sole proprietor at NSR Finance, said: “I’m very sceptical regarding lead generation companies from experience. This doesn’t appear too far removed from something a smart broker could do themselves, if
they have sufficient internet knowledge.”
