The mortgage finder is designed to be customer-friendly and takes the best of online buying experiences, applying them to the mortgage market for the first time.
In-depth consumer research conducted by Stroud & Swindon highlighted the current frustrations about mortgages such as overwhelming choice, confusing interest rates and jargon. In response to these findings, Stroud & Swindon designed its mortgage finder to make the mortgage buying experience simple, straightforward and easy - putting the consumer back in control.
Mortgage options are presented in a clear and easy to understand format. The user is asked what house buying stage they are at, the property details and a few personal criteria such as income and employment type. Relevant Stroud & Swindon mortgages are then short listed and compared. Criteria can be changed and amended at any stage in the process.
“This is a totally new way of selecting a mortgage,” said David Rodney, head of marketing at Stroud & Swindon Building Society. “Through our detailed research we found that consumers were bewildered by mortgages – especially how the industry uses jargon and present APRs. All they really want to know is how much a mortgage will cost them each month. We have tried to demystify the process creating a straightforward and helpful site that consumers can easily interact with. We know this is the way that consumers want to choose their mortgage.”
“To date, the financial services industry has often created confusion to the detriment of the customer – especially in the mortgage arena,” continues David Rodney. “We believe that the Stroud & Swindon online mortgage finder is a demonstration of how easy it really can be. We will be continuing to improve our customer experience with new developments for our savings and mortgages portfolio in early 2007
