A new website has launched with the aim to provide high quality mortgage leads to financial advisers.

Lead Magpie operates by entering leads into an eBay-style auction where the highest bidder wins the lead. Leads are automatically checked for invalid data and delivered to brokers within seconds, via e-mail or text message, it claims. All leads are exclusive and have given their true express consent to be contacted.

Stuart Cam, Lead Magpie’s managing director, said: “Lead Magpie represents 12 months of working with IFAs to create a compelling new service. We’ve addressed the common complaints with existing solutions and raised the bar in terms of flexibility and fair pricing.””