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Trussle — The UK’s first online mortgage broker
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@stuartlogan Hi Stuart, we feel your pain (hopefully it wasn't too bad!) If you don't want to go through that again, you can always use our free mortgage monitor - if you share some basic details it'll send you a message if and when it makes sense to remortgage :)
Hi guys! I’m the founder of Trussle, the UK’s first online mortgage broker. We launched exactly a year ago today to take the hassle out of getting and managing your mortgage.
Getting the right mortgage through traditional routes is complicated, stressful, and time-consuming. So we’ve built a straightforward online service to ensure borrowers get the right mortgage, quickly and conveniently.
We’ve built a sophisticated mortgage search algorithm that finds the best product on the market for our customers. This takes into account the lender's black box of underwriting criteria, affordability and product suitability to return the most suitable result in a fraction of the time and far more accurately than any traditional broker could. But we get this is a huge emotional and financial decision, so there'll always be a team of experienced and qualified brokers on hand to answer any questions :)
We also launched our mortgage monitoring service to solve the problem of UK homeowners overpaying £3,500 on average because they're sitting on the wrong rate!* You can simply enter the details of your existing mortgage in under 60 seconds and we'll continuously compare this against the entire market, alerting you if and when it makes sense to switch to a better deal.
Last week we were humbled to be awarded PropTech Startup of The Year at the Elevator Pitch Awards. So a huge thanks goes out to the team, our amazing customers, and all those who have supported us on this crazy journey so far!
I’d love to hear your thoughts about our service, and I’ll be around all day to answer any questions :)
Ishaan
(Please excuse the following small print: *Based on mortgage amount of £173,400 repayable over 25 years, as of Nov ‘16. Your home may be repossessed if you do not keep up repayments on your mortgage.)
@richbogle Hey Richard, great question! Short answer: automation.
Long answer: If you’re looking to buy a home, traditionally you’d have to visit a bank to get a Mortgage in Principle (the certificate you need to show estate agents how much you could borrow). By spending three minutes filling out a simple online form on our site, we can generate one for you to print out. We’ve also experimented with posting these to our customers recently.
To get a mortgage recommendation (whether you’re buying or remortgaging), traditionally you’d again need to schedule a meeting with your bank or broker. But with Trussle, the process is mostly done online. Because of legal regulations, one of our advisers does need to talk you through it on the phone. Those calls are generally made between 8am and 9pm, which tends to suit most people.
@gvrnsky Thanks Hubert! I’ve passed your feedback on to our product team. Fun fact for your research: Trussle was the first service to put a mortgage application form online. Really...in 2015!
I'm in the market for a mortgage right now and this product is so unbelievably useful for me.
@andrewallsop Hey Andrew, Oli here from Trussle. That's great to hear and we'd be happy to help! If you decide to give us a try, please do share any feedback you might have along the way. Always looking to improve where we can :)
Hi Ishaan - looks like an really interesting product. What would you say is the difference between Trussle and Habito?
@jasperlock Thanks Rob! Our focus has, is and will continue to be on improving the end-to-end process for our customers rather than what others in the space are doing.
For example, we provide first-time buyers with a fully automated Mortgage in Principle in under 5 minutes which you can access via Zoopla, providing real-time context on which properties you can afford whilst browsing through the portal. Both this product and partnership were an industry-first :)
In general, innovation in the mortgage and broader property industry is long overdue so a flurry of new entrants can only be a good thing. With regards to our proposition, you can check out some of the feedback we get here - https://uk.trustpilot.com/review... - we seem to be doing something right! Why don't you give it a go and let us know how you get on?
Glad to see that finding the right product and putting each individual consumer first is your highest priority!
@peytonhayslette Hi Peyton. Putting our customer’s interests first runs through the company. Brokers that rely solely on human advisers risk the temptation of recommending a lender with a higher referral fee or the lender that's most convenient for him, rather than what's objectively best for the customer. We’ve developed an in-house mortgage search algorithm that eliminates that risk - not that our advisers would ever do such a thing in the first place!
I think that this is a very convenient application and you can easily find out the mortgage rate and amount of monthly payments, thank you for sharing. Actually, I like it that apps make our lives easier and save us time. And I often use the mortgage app if I need to see my mortgage data. In addition, there is a chat and you have the opportunity to contact the consultant 24/7, but I never use this chat, because I have a great broker from https://www.Derbymoneyman.com and he has been helping me solve my mortgage issues for 2 years. He recently helped me lower my mortgage rate and I am very glad that I can now pay off the mortgage faster.
Do you guide through when applying for a mortgage plan and help to prepare all legal papers?
Twine