L&G launches online mortgage comparison tool

The tool is available through L&G's customer website and is the first in a series of planned online developments, it said.

The comparison tool enables consumers to search for mortgages that match their individual requirements and features best buy tables and mortgage calculators.

Once customers find a suitable product and choose to proceed, they will be allocated one of six participating adviser firms to deal with the enquiry.

The firms include: The Finance Planning Group, Mortgage Talk, Mortgage Options (Partnership Division), Advisory Financial Services, Kingsgate Law and Mortgage Shop (NI).

The customers can also choose the time and day they wish to be contacted.

The comparision tool will be driven by TrigoldCrystal.

Duncan Crocker, managing director of Legal & General Network, said: "Recent CML research shows that around 80% of customers' research online for available mortgages before they visit an adviser.

"This is a growing trend and suggests that it might not be too long before a considerable proportion of our mortgage business is transacted online.

"With that in mind, it is the responsibility of the industry to ensure that we make as much information and support as possible available to those looking for a home loan online, especially in the current challenging climate."

Crocker added: "The launch of our mortgage comparison tool is part of a planned series of innovations designed to help customers and intermediaries alike to make well informed decisions when it comes to choosing mortgage products."