The service will be available to a range of buyers, including first-time buyers, next-time buyers and those looking to remortgage
Saving and investing app, Moneybox, has announced the beta launch of Moneybox Mortgage Advice.
Moneybox Mortgage Advice will sit within the app and generate a ‘Mortgage In Principle’ through a few simple steps. A dedicated team of mortgage advisers will offer free, impartial and unobligated advice over the phone or via in-app chat to help customers find the mortgage that’s best suited for their individual needs.
Moneybox has announced that it is paying advisers a set salary rather than commission.
To ensure a broad offering to customers, Moneybox is working with Mortgage Advice Bureau, which provides access to more than 12,000 mortgage products from 90 different lenders.
The service will be available to a range of buyers, including first-time buyers (FTB), next-time buyers and those looking to remortgage, and customers can track their progress in the app throughout the process.
Launched in 2016, Moneybox now has more than £1bn in assets, a community of more than 500,000 customers and a team of more than 200 people.
Ben Stanway, co-founder of Moneybox, said: We are on a mission to help everyone save and invest for their future, and for many, that future includes home ownership.
We are already helping hundreds of thousands of people save for their first homes, but we’re aware that the home-buying journey goes far beyond saving up for a deposit. Finding the right mortgage can be a stressful, time-consuming and expensive process, and we want to change that, he said.
We want to give people the tools and information they need to save for a deposit, and then the qualified advice to help them make an informed decision on what the right mortgage is for them. By offering customers everything they need in one user-friendly service, we want to bring the joy back to home-buying, Stanway said.
Sania Kudaibergen, head of mortgages at Moneybox, added: Buying a home should be one of the most exciting moments in people’s lives, but too often the process is fraught with worry and confusion, and people can end up with mortgages that aren’t right for them.
Kudaibergen said that we want to streamline the mortgage application process, and have built a team of experienced advisers who pride themselves on offering free and qualified advice whenever you need it in your savings journey. To help customers find the mortgage that fits their individual needs we’re excited to be working with the UK’s leading mortgage intermediary brand Mortgage Advice Bureau.