Price comparison sites are great. I use them all the time to find cheap insurance and other financial products, as it saves me from having to spend hours online doing the research myself. For landlords, comparing prices on buy to let mortgages often means a trip to a mortgage broker, and since brokers earn commission on their sales, you are not necessarily going to receive unbiased advice.
Google launches a mortgage comparison site
Google, the world’s biggest search engine, has launched a mortgage price comparison website that includes hundreds of buy to let mortgages. On its own, this is good news for landlords, but what makes it even better for landlords is that any lender who wishes to be included in the search results must cap their fees at 1% of the loan advance, which is a lot lower than many of the deals on offer from lenders elsewhere.
How does the price comparison site work?
Like any other price comparison site, you have to answer some basic questions about the product you require before the site search engine returns a list of results, although Google promises that all information you provide will not be used for nefarious purposes apart from allowing the broker to contact you if applicable.
Hopefully one of the mortgage deals will sound good, but as always, never sign up for any kind of financial product without reading the small print and making 100% sure that the deal is the right one for your individual circumstances.
