Google suspends UK Compare Mortgages site

| February 10, 2012
Google suspends UK Compare Mortgages site

Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected.

Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site.

Google was competing with several well-established comparison sites, including moneysupermarket.com and comparethemarket.com.

Prior to closing the UK site, Google had already closed its US mortgage comparison site.

This was launched on a trial basis in 2009 and eventually became part of Google Advisor, a site designed to help visitors find financial products.

The UK mortgage comparison service was suspended in September to undergo a revamp but following a review of its products Google has decided to close the site down, although a final decision on its future has not been made.

The company said: “We tested a mortgage comparison product in the UK for a short time during the summer of 2011.

“That test is no longer running and we have not made a decision on our next mortgage comparison step in the UK.”

There was further bad news for Google in the US, with security researchers revealing concerns over Google Wallet, a Near Field Communication (NFC) payment service which turns a mobile phone into a credit card.

Security firm Zvelo revealed that the Google Wallet PIN can be accessed by cyber criminals through an exhaustive numerical search.

Gaining access to the PIN would allow them to make purchases.

Google is working with Zvelo to resolve the issue.

The company is believed to be in talks with UK retailers, distributors and banks over trials of the device in the UK and the service could be available in time for the 2012 Olympics.

It would allow Android phone users to tap their device on a reader in order to pay for goods and services.

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