App for investment and savings advice Moneybox has added a new mortgage advisory service to its offerings, after the Mortgage Advice Bureau (MAB) linked up with it on this service.
Moneybox is beginning by making this new Moneybox Mortgages service available in beta trial form, solely to certain existing users of the app – those looking to remortgage, move to a new house or buy their first home. It is expected that it will be given a full rollout to everyone who uses the app before the end of 2021.
The Moneybox Mortgages service will see users able to get advice about products offered by any of the 90 mortgage lenders on the MAB panel. Advisors employed by Moneybox will provide their help to borrowers via the app’s chat service or over the telephone, and they will be earning a regular salary, instead of being paid commission for each loan completed.
Borrowers using this part of the app will also be able to benefit from its existing tools for financial management, like its Time Machine and Home-buying Calculator. These will allow them to see how close they are to meeting deposit requirements.
Speaking to Mortgage Solutions, MAB CEO Peter Brodnicki said:
“Moneybox customers will now gain access to experienced advisors who will help them to secure a mortgage which best meets their needs – from the many thousands of options available.”
This will appeal to advisors who have secured a CeMAP qualification and want to combine the security of a regular income with the chance to adopt cutting edge technology.
