Asda may enter mortgage market
For many people Asda is a place to go in order to do the weekly shop, purchase a few odds and ends, or look for bargains on some household goods and gadgets. However, like other supermarket giants over recent years, Asda has added a number of financial products to its range, such as loans, credit cards, and insurance services. It has now announced that it is thinking of entering into the mortgage market, with officials claiming that the company may be able to try and ease the currently difficult mortgage market by offering more choice for consumers.
Asda officials recently said that the company had been thinking for some time about getting into the mortgage market, and is looking at brokers through which its mortgage loans can be made available. The supermarket giant has said that it wants to be considered a one stop shop for everything from groceries to financial products, and thinks that it can offer some good deals on mortgage products at a time when the mortgage markets have dried up and consumers have been left with very little choice.
An official from Asda recently said: “We do not think the mortgage market is working well for many consumers. We have been looking to find a way into the mortgage market for some time but it has been difficult to get the interests of the providers, brokers and customers in line. We want to be able to tie it all in, the mortgage, the home insurance, the protection and anything else the customer needs. We want to be essentially a one-stop shop for a good deal.”
With regards to the broker service that Asda may be hunting for, one industry official stated: “It is an interesting time to move in and Asda will want a broker that is well established. It is a good opportunity for a firm wanting to work in the mass market and do lower values but higher volumes of business.”
Recent news:
- Government rescue plan may take time to take effect
- Seller experiencing problems with home buyers
- Mortgage market could continue to suffer for another two years
- Even the government expects house prices to keep falling
- More help to be offered to homeowners facing repossession
- Estate agents at risk of problems due to mortgage and housing chaos
- Brokers complain over lack of access to mortgage deals
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