Google has launched a new tool for mortgage borrowers that promises to compare every deal on the market.
Google's mortgage comparison tool will appear at the top of search results whenever someone searches for a mortgage-related term
The price comparison tool, which will appear at the top of search results whenever someone searches for a mortgage-related term, was launched at lunchtime today.
It will search loans that are available only through mortgage brokers, as well as loans offered directly by banks and other lenders. In all it will compare about 5,000 different mortgage deals, Google said.
Users will be able to look at best-buy tables for a variety of mortgage types or get a more personalised list of offers if they provide more information about their needs and circumstances.
Google added that it aimed to offer the highest standards of user experience and data protection. The search engine would not record any personal data about users if they clicked through to a direct lender, or only basic information to allow a broker to call back.
Google also requires the companies that participate to follow a code of conduct to ensure that customers are treated fairly. The total fees that the customer pays will be capped at 1pc of the loan.
John Paleomylites, a product director at Google, said: "Over the last few months we have launched new comparison services for credit cards, current and savings accounts and car insurance. We are now adding mortgages to our comparison family, making it easier for customers to find the best deal for their individual circumstances."