How to make a mortgage comparison site

[WaftyCrank]

OK when you log on to money supermarket and do a comparison for a UK mortgage. You get asked a lot of different variables before being shown a list of mortgages.

How is that done? I'm looking to get something similar built for a mortgage site as my relative is mortgage adviser. I'm going to then pass the referrals on direct to him to contact the customer. He gets access to all the top UK mortgages so he will be able to offer really good deals.

Anyone know how to do it? Better yet anyone interested in building it for a fee?
Will need instructions on how to maintain it though to ensure we can show the most current best mortgages.

 

[bb99]

It's not quite answering your question, but a couple of people I know are mortgage broker type people and they get their mortgage deals/data from a software package called Mortgage Brain. This is a Windows application that they pay for. I can't remember how much it is, but it's not all that cheap - presumably because the publishers don't get any revenue from the mortgages (the mortgage brokers get all that).

Maybe ask your relative where he/she gets their mortgage data from, be it Mortgage Brain or similar, and then they can ask the publisher if they offer an online version.

 

[WaftyCrank]

I know where he gets his data from. It's not so much the deals as such it's how to put the whole thing together.

I.e. the list of questions regarding financial background (bad debts / current loans etc) produces best available deals.
I need the first portion of the database where answers 123 to XYZ produce good deals, answers 456 to XYZ produces medium deals and answers 789 produce high risk deals.

It's getting it all together and being able to regularly update it with said deals.
i suppose the system would give points to every answer and thus this will determine the best available deals.

 

[accelerator]

How it's done? With some web forms coding ... either learn yourself or find yourself a good developer (which is easier said than done), outsourcing sites are available:

++ url remove please pm him for url ++

Some affiliate programmes will probably have "ready to go" cut and paste scripted tools, but these won't be any good to you if you don't want to use these programmes.

Normally things have been done before, no point reinventing the wheel so ask your relative to ask their contacts in the industry.

 

[bb99]

Another thought on this - if you get a user on the site and as them some questions and then show them a list of mortgage deals, you may be giving them mortgage advice. This is of course a regulated activity, so you may need to register with the FSA.

Not sure though...

 

[WaftyCrank]

Another thought on this - if you get a user on the site and as them some questions and then show them a list of mortgage deals, you may be giving them mortgage advice. This is of course a regulated activity, so you may need to register with the FSA.

Not sure though...

Oh it will be passed by the FSA before launch anyway just to ensure I'm not breaking any laws.

 

[retired_member32]

i have been looking into this kind of thing because i just purchased bankdeals/co/uk and i wanted to do a comparison with credit cards and mortgages but it looked heavy and i was thinking of a rss feed type thing but couldn't get it right so i have decided to go down the affiliate route but the problem with that is that not all banks are with the same affiliate program which is messy,good look with your venture though and i hope your relative is paying you for your time and effort?

 

[WaftyCrank]

Yes he's paying. A cut of any commission if a mortgage completes. Not a big cut but if I get enough referrals to him it will work out alright. Helps the business account to stay healthy anyway.

Also if anyone is interested in doing something similar and passing the leads on I'm sure we could work out a mutually beneficial deal for referrals. PM me if anyone is interested.

 

[camiech]

Hi there,
I am similar situation to you.

I am creating a comparison site for an undevelophed country and looking for some advice (as i am new in the field).... and also looking for some beneficial deal. maybe you already have what i am looking for and we can exchange information.
please contact me in case you are interested !!

 

[srisri24]

Hi,

I think these mortgage rates and offers by different companies change all the time. so you need to subscribe those feeds. Then only you can develop an upto date comparison chart.

srisri24

 

[WaftyCrank]

Hi,

I think these mortgage rates and offers by different companies change all the time. so you need to subscribe those feeds. Then only you can develop an upto date comparison chart.

srisri24

Yeah they do change all the time. To keep on top of it daily seems to be the key but whether or not it is workable is a different story.
Still in planning stages right now while I work on my other development projects but will update this thread when it's ready.