Property platform Rightmove is targeting the mortgage sector with more details due as part of its investor relations day at the London Stock Exchange later today.
In a trading statement, the company said it has taken a significant step in the mortgage sector by launching its first broker product.
This new offering is designed to facilitate consumers applying for mortgages to access brokered advice directly through Rightmove’s platform.
Johan Svanstrom, CEO, told the Today programme on Radio 4: “We think it [mortgages] is really exciting. What we are doing is constantly developing usable services for consumers. We want to get everyone to believe that they can make their move, especially in these times of higher rates.
“We’ve been working in mortgages with one of the country’s largest lenders, Nationwide, since last year. We offer a digital application process through Rightmove [and] that has grown strongly.
“Now we expand that partnership with one of our estate agent broker services to offer even more choice to consumers.”
When asked if it was an odd time to get into mortgages Svanstrom added: “Actually, the ability and need to lend is critical for the housing market…
“What we are trying to do is work with partners and facilitate a digital and more transparent process. We have one of the biggest brands in the market where a lot of consumers read up about what they can and what they can’t do. We think this is a great effort.”
