Abbey launches mortgage advice website

Posted: 19 Dec 2006 10:28:43 GMT

One of Britain's largest mortgage lenders, Abbey, has announced the launch of its new website designed to offer consumers jargon free advice on buying a property

One of Britain's largest mortgage lenders, Abbey, has announced the launch of its new website designed to offer consumers jargon free advice on buying a property.

Research conducted by Abbey shows that 17 per cent of people between the age of 16 and 34 turned to friends and family for advice on mortgages, as opposed to the 13 per cent who spoke to a bank or building society.

The interactive site allows people to enter their details, and also converse with other first time buyers who have experienced some of the same dilemmas.

Nici Audhlam Gardiner, who is product executive for mortgages at Abbey, said: "By sharing experiences, people can better understand how they can go about buying a house, and flag potential pitfalls."   

While on the site users will be invited back to share their experiences once they have completed a deal and Abbey hopes to build up a bank of personal experiences which will be easily accessible to potential customers.

Ms Gardiner said: "Buying a house for the first time is both exciting and daunting.  This website community helps demystify house buying – with advice and help from those who've done it before, or who are going through the process."

With rumours of an imminent rise in interest rates, together with having to compete with other sites offering advice, Abbey will be hoping that the user-friendly nature of this site will attract potential buyers, while at the same time quelling consumer fears of a dip in the market.

© Houseladder Ltd