Moneyfacts to terminate Mortgage Search Screen

Ramesh Sharma

January 14, 2006

The Mortgage Search Screen will be discontinued shortly, although Moneyfacts said brokers will be given at least 28 days warning before it is terminated.

Moneyfacts explained it has been encouraging intermediaries to use its emoneyfacts tool instead, which was launched in April 2004 and now has in excess of 7,000 users.

Andrew Hagger, spokesperson for Moneyfacts, commented: “We will be terminating our Mortgage Search Screen. We have not managed to get hold of some brokers to advise them of this move yet but everyone will have at least 28 days notice. It is simply a strategic decision. The system was non-web based which meant lengthy maintenance times and put restrictions on the size of the screen.

“We have received no negative feedback on this yet. The only gripe that may materialise from brokers is that they will have to use a slightly different system. We have about 120 users of Search Screen left to migrate over to emoneyfacts. We have a while to go.”

But Chris Varney, broker at Mortgage 4 You Ltd, said: “I know a few subscribers who are not aware of this and they will have to look at alternative search engines for sourcing their clients’ mortgages. I have tried the ‘new and improved’ emoneyfacts.co.uk tool but it doesn’t seem to be accurate and they do not tend to answer a telephone call or use one to call out either.”

But Hagger replied: “We have a voice message facility on all our phones, and we endeavour to respond to all enquiries as quickly as possible.”

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