Property website Zoopla has teamed up with mortgage adviser Trussle to launch a brand new service for house hunters on the Zoopla website.
Trussle works with over 90 mortgage lenders and searches through 11,000 mortgage deals to find the best possible match for each individual consumer and enables house hunters to get a mortgage in principle in just five minutes.
Home hunters need only enter a few details to find out in 60 seconds what they could afford to borrow, and what the monthly payments would be.
One further step and a few more details about income, outgoings and personal circumstances, and buyers will be provided with a Mortgage in Principle in less than five minutes.
Buyers who then send a property enquiry to an estate agent through the Zoopla website can signal to the agent that they have secured a mortgage in principle. This gives vendors and estate agents confidence that the potential buyer is serious, has their finances in order and is transaction ready, giving the buyer credibility and putting them in a strong negotiating position.
In addition, once a consumer has logged their details via the Trussle tool on Zoopla, a green tick on Zoopla for sale property listings will show them when a specific home is within their affordability range, helping home hunters search for their next property more effectively.
Lawrence Hall, spokesperson for Zoopla, said: “With over 90% of home hunters starting their search online, it makes complete sense for Zoopla to offers its users the Trussle service and give users the chance to secure a mortgage in principle online. For first-time buyers and home movers, being able to signal to estate agents that they are transaction ready and have a mortgage in principle is an extremely powerful position to be in ahead of making an offer on a property.”
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