UKNM: Nuthin' beats Egg

[Ray Taylor]

All this talk about fmcg and stuff that can be bought for 43p on the net is all very well, but how about a look at some expensive things that you can buy on the internet? Like a mortgage for instance.


I just applied for a re-mortgage from the Egg web site. Got an agreement in principle the next day. If I had all of the facts when I applied it could have been processed there and then. All that happens next is some offline stuff like eyeballing documents, and checking that there is a house standing at the address given.


It's wonderful. Not only have I saved several hundred pounds per month on the deal (if it goes through) but it is all going through in record time, and without the need to hang around in one of those horribly banky places waiting to see some bloke in a suit.


How any financial services company can argue against online quotes and ordering I do not know.


Funny thing was, I went to the site having been sent an irrelevant piece of junk mail. Aprox cost of item 50p, likely hit rate 1%, therefore cost-per-response �50. Would have been cheaper to have used banner advertising.


Banks and other financial services companies are still wedded to the idea that you can't sell a financial product without sending out lots of dead tree.


When, or when, will they wake up?


"Take another letter please, Miss Jones, and while you're at it, a cuppa tea and a digestive would be supah!"


Ray Taylor


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