Evaluate Technologies has called for an urgent rise in the standards of mortgage comparison sites, arguing the industry continues to suffer from system inefficiencies with tepid leads being generated as a result.
Evaluate said that the market will only resume its previous growth trajectory when consumers and brokers are provided with a proposition that meets their needs.
Julie Speed, national accounts director at Evaluate Technologies, said: "It is quite clear that the old model is failing.
"Sites that are limited to a short form generating leads for the highest paying mortgage broker will not survive the current shake-out. Nor will brokers that continue to tie themselves to this business model, as they are already telling us.
"It is time for brokers and comparison sites to embrace a new way of working; one that enables consumers to take a more active role in the process.
"The first companies in both sectors to do so will gain a crucial advantage in the fight to redesign their businesses to be competitive in the market that exists post credit crunch."IFAonline
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