Multiply AI, a fully automated financial adviser app, has partnered with digital mortgage broker Mojo to provide the first end-to-end digital advice service for first-time buyers.
The firm’s free-to-use online service provides tailored recommendations and investment support to prospective buyers. It also provides access to a Lifetime ISA (LISA) at a time where many Help to Buy ISAs are closed to new applicants who have been stalled due to lockdown measures.
Vivek Madlani, chief executive officer of Multiply AI, comments: “Our partnership with Mojo will help homebuyers from the point at which they decide to start saving their deposit, all the way to getting their keys.”
“Mojo shares our ambition to democratise access to financial advice and remove key barriers to entry for first-time home buyers – namely financial knowledge to saving and getting the right mortgage. Together we are delivering a complete online experience that is easy to understand, cost-effective, fast and transparent.”
Mojo’s free service aims to bring transparency and convenience to first-time buyers with innovations such as MortgageScore and real-time eligibility across thousands of mortgage deals from 90 lenders.
The smart, time-saving tech allows Mojo’s expert mortgage advisers to spend more time with first-time buyers, giving them confidence in their mortgage decisions.
By joining forces, Multiply and Mojo hope to disrupt a process that has traditionally been difficult for first-time buyers to navigate, all with just few taps on their smartphone.
Richard Hayes, chief executive officer of Mojo, adds: “We help thousands of people with mortgages and remortgages, but it’s always great when we can make things just that bit easier for first-time buyers, and this partnership with Multiply does that.”
“Many first-time buyers have seen their plans disrupted over the past year, and most will want to make 2021 the year they get on the ladder - particularly if there is a softening of house prices after the SDLT holiday.”
He concludes: “This partnership gives them the quality advice and confidence they need to make better and more informed decisions about the biggest investment they will ever make in their life.”