He told delegates at the CML conference that Countrywide’s online division could be available in around 12 months time to sell housing and possibly mortgage products.
Stockton, financial services director at Countrywide, explained that more buyers are going online to pick the type of accommodation, location or price they’re after and getting estate agents to forward details to them.
“Nowadays, we usually see a buyer once they have picked out four or five properties they’ve found while browsing online.”
He added: “We’re at a point where Countrywide will be moving forward in the next year where online will become specific divisions of our company.
“It’s not going to be too long before we work out how we can offer services where we can say that a 75% LTV mortgage will cost you X amount to buy this house. Things are moving forward. There are certain brokers who are already making a living from harmonising and optimizing their online lead performance.”
Stockton added that face-to-face distribution still remains a dominant channel and that brokers have attributed their success to the value which borrowers have in face-to-face interaction.
“Consumers want to see someone to reassure them of the most important purchase in their life. Face-to-face distribution will be the dominant channel for the foreseeable but it will change and when it does, it will change quite dramatically.”
