Data Protection No. Z8832569 C C L No. 645438 Copyright © All rights reserved. Made By Bluecygnet, Mr Tony Law

Comparison website's take £650 m in commissions

Consumers are drastically underestimating the commissions taken by comparison sites which totalised to a sum of £650m last year, according to new research.

Just as the FSA clamps-down on commission disclosure for financial advice, it appears consumers are still ignorant about payments being taken by product comparison sites.

The YouGov research, carried out on behalf of SaveItBuddy.com, found 10.1 million people in Britain used a comparison site in the last year, resulting in an average commission of £64.59 each

It discovered consumers underestimated these commission taken by comparison sites, with a fifth putting this at 5% of their purchase, and another fifth saying it stood between 5% and 10%.

In fact, the research claims, the average commission is actually 24%.

Consumers said they used comparison sites because they believed the sites provide the cheapest deals (37%) and helped to save time when renewing insurance (27%).

Comment;

We at Bluecygnet believe this highlights the reason why so many people think we brokers are paid a fortune for our services which is not the case.

George Carlin signs up as an associate of Bluecygnet

George Carlin has been a qualified CeMap mortgage broker since the regulation authorities brought this in as a qualification required to deal with residential mortgages. His mortgage experience has covered many years as a self-employed mortgage broker assisting many clients across Scotland & the UK.

Before George considered joining Bluecygnet he had a good look at today’s mortgage market. He knew that to give clients both the best choices and service when they needed finance he needed to include business mortgages as well. That’s why he stated “ No sole trader can be all things to all men” So he found becoming a more committed associate to Bluecygnet Commercial & Business Finance was an easy decision.

With his offices in Bearsden, Glasgow he will be well placed to assist Bluecygnet's current clients and deliver a higher level of service to our new ones. He will be seeking out some of his old contacts he knew with his time with Commercial Decisions late of Glasgow who he worked with

Until they closed in late 2008.

If you would like to contact George or see what new services he is able to offer clients go to contact us page where his details are displayed there.

We are sure that this move for George will be a good one for him and all our clients. We wish him all the best!!