Doshpoint enters the fray

Doshpoint has initially set up an offering with personal loans and mortgages that allows users to type in the minimum of details, such as the amount and the term, and then a recommended lender is suggested. The service is free, and also allows searches for those with impaired credit histories and CCJs.

John Witney, managing director of Doshpoint, said: "We were shocked at the clumsy, cumbersome nature of so many financial services sites.

"They obviously cost a fortune to develop. Yet most of them do nothing more than translate complex forms and application processes from hard copy to online – made even slower by the addition of some fancy designs which add no value but delay the loading.

"We will replace this complete waste of the internet’s great potential for speed and simplicity with an instatnt service in tune with the lets-have-it-now expectations of the web generation."