Stroud & Swindon has launched an online mortgage finder facility which it says is designed to be customer-friendly as well as make the best of online buying experiences.
The building society claims consumers are becoming frustrated with an overwhelming amount of choice in terms of mortgage products as well as confusing interest rates and jargon.
As a result, the lender says it has designed its mortgage finder to be as easy and simple to use as possible.
Users are asked what housebuying 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 and criteria can be changed and amended at any stage in the process.
David Rodney, head of marketing at Stroud & Swindon Building Society, says: “Through our detailed research we found that consumers were bewildered by mortgages – especially how the industry uses jargon and presents 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.
“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," he adds.
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