Fancy getting an Asda mortgage?
July 3, 2008
Over recent years we have all become used to our local supermarket giants offering a wide range of products in addition to the traditional groceries. Many supermarkets have started to offer household gadgets and furniture, clothing, and even travel money. Many now offer a range of financial services, ranging from loans and credit cards to insurance services to suit all needs. And one of the leading supermarket giants, Asda, has recently announced that it plans to break into the mortgage market.
Asda officials have acknowledged that the mortgage market is facing severe difficulties at present, but have added that by entering into the mortgage market Asda can help to ease the situation for consumers by bringing more choice to the mortgage sector. Despite the effects of the global credit crunch on the market Asda officials feel that the supermarket could do well by entering into this field, and according to recent reports Asda is looking at different brokers that could help with the distribution of its mortgages.
One official from Asda 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.”
One financial industry professional added: “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.”
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