This decision will affect a minority of intermediaries as the majority consistently bid above the minimum bid price. As a result of this move, the price of moneysupermarket.com mortgage leads will now be set at £19 from August 9.
Paaleads.com’s ebay-style bidding facility gives advisers the freedom to select the maximum price they are willing to pay for each lead, only charging £1 more than the next highest bid.
Vanessa Blount, head of paaleads.com, said: “Leads from moneysupermarket.com have one of the highest conversion rates in the industry, with three in ten leads converting to business plus at least one referral. Intermediaries can therefore rest assured that even though there has been an adjustment pricing, quality is not compromised. This announcement has been communicated to all our intermediaries reinforcing the transparency of this business.”
Through this bidding scheme advisers can target the specific mortgage lead types that suit their needs, such as:
- Buy to let
- Self-build
- Adverse
- Remortgage
- Home purchase
- Right to buy
- Equity release
