The UK’s first digital mortgage brokerage service for UK buy-to-let landlords has been launched. Property Master, which claims to allow the nation’s 2 million private landlords to take control of their portfolio financing online for the first time, uses a unique database and sophisticated search algorithms that have been specially designed to meet the requirements of buy-to-let landlords.
The platform enables landlords to carry out simple “what if?” searches to find and apply for a mortgage online with a single click. This, Property Master says, could potentially save them up to £3,000 per buy-to-let mortgage.
This latest launch comes at a time when the UK’s PropTech sector is booming, with online brokers such as Trussle and Habito entering the mortgage market and hybrid agency Purplebricks causing a stir among traditional agents.
“Landlords have had a raw deal in the past year or so due to tax hikes and regulatory pressure – Property Master is here to put the buzz back into buy-to-let,” said Angus Stewart, CEO of Property Master.
“Property investors tend to assume they are getting a good deal, but actually they are paying as much as £3,000 a year more than they need to on each property.”
He added: “Taking control of financing is essential for landlords, as the government continues to put a tighter squeeze on tax relief and other allowances. Having the right mortgage deal in place, and taking the time to think through the overall portfolio finance, can make all the difference to a landlord’s financial return.”