Google mortgage comparison shelved

Martin Keene/PA Wire/Press Association Images

Google has announced that it won't be going ahead with a UK mortgage comparison site after-all. It had planned to set up something along the lines of its US site, which let buyers search and compare offers. However, it has been forced to pull out. It had launched a trial site in July, but suspended it in September claiming it was being revamped. Now it says it won't ever re-open.

So why has it made the move, and what does it mean for mortgage comparisons?