Has anybody signed up for mortgagebundle?

jayp70

I was reading the Metro on the train into work this morning and came across an advert for https://www.mortgagebundle.com. They search the market for the best mortgages and send you an email with a list. You can also post your mortgage requirements on an Auction board and lenders come back to you with the best possible offer!

I have signed up but just wanted to know if anybody else has used their service?

Jay

michaels

Funny - I just get a website under construction message - could jayp70 (new user) be advertising his own site?

silvercar

I doubt it, a big article in today's Times about how it is the way of the future.

payless

Not good timing if they get adverts / PR , then the sites not working

jayp70

No the site has nothing to do with me! Like I said in my original post, the advert is in the Metro paper. I can upload the image if you want??

Ian_W

It's also in the Express this morning. The domain is registered to someone in Florida according to the internet registrar.

Very strange, someone's spent a "bundle" on advertising for an under construction website. They've obviously "bundled" the job!!
:rotfl:

dunstonh

They became FSA authorised on 3rd Jan with an application process that appeared to have started early last year.

6 directors registered. No IFAs or authorised reps and has mortgage licence only.

According to their site, they get people to answer 9 questions and the details are then listed bundled with others with similar requirements. Lenders can then bid for that chunk of business and offer competing terms.

My first response is that any innovative ideas are great and should be encouraged. However, the limitations I see are that there are no mentions of which lenders are participating. Lenders tend to have set deals which are allocated to branches/brokers depending on levels of business. I don't see the lenders offering a new product for just one website starting out.

If 10 people put their details down for a mortgage and a lender comes in for that, then the deal is likely to be no better than a broker or network that arranges thousands of mortgages a year for that same lender. I suspect that the process would be much slower as well as you would be waiting for a response to happen, which may never happen.

Joannaclaire

Their site seems to be functioning now.

dander

One wonders what benefit a mortgage lender would get out of it.

Pegleg2001

dunstonh wrote:

However, the limitations I see are that there are no mentions of which lenders are participating.

C4 news mentioned 14 providers inc. the Nationwide BS

dunstonh

Ok, but are they participating with special deals or are they just the usual broker versions. I suspect the latter.