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Traditional mortgage broking will always have a future despite the “strong growth” of digital rivals, according to comparison website Mozo.
Responding to a recent article about the potential threat of mortgage comparison websites, Mozo said it was wrong to assume that everyone was comfortable transacting a mortgage over the internet.
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“There will always be a group of customers who want to talk to someone face-to-face and have a support network around them, from the likes of brokers or financial planners, when making an important financial decision like buying a home,” Mozo said.
However, although Mozo said there would always be room for face-to-face service, it also told The Adviser that brokers couldn’t ignore the rise of mortgage comparison websites.
"Comparison websites have seen strong growth in the past five years – Mozo now delivers over 100,000 leads to financial services providers each month,” Mozo said.
“Consumers are showing just how comfortable they are to research, communicate and buy online, and we think this will only continue as technology and products improve.”
[Related: Tech knowledge gaps costing brokers sales]
