Online broker Mojo Mortgages has launched a platform for third-party partnerships to tailor the mortgage finding process for consumers.
The broker plans to partner with challenger banks, online estate agents and comparison websites, and will provide the underlying technology to help clients find a mortgage tailored to their needs.
The service is akin to robo-advice, but clients will have the option at the end of the process to seek mortgage advice from Mojo or go it alone.
Mojo estimates the process to find a suitable mortgage for clients could take as little as 15 minutes, which could be a boon for both busy advisers and their time-pressed clients.
Partner companies will have the option to pick and choose the parts of the customer journey they want to offer.
Our focus with the partner platform was to give our partners a number of options tailored to their development capabilities and immediate requirements.Eddie RossRichard Hayes, co-founder and chief executive of Mojo Mortgages, commented: “Getting a mortgage is typically a frustrating and time-consuming process.
“The poorly executed white-label partnerships and best buy tables offered by traditional brokers’ partnerships options certainly don’t help. Our solution puts an end to poor customer experience and commercial performance.
“Mojo is making mortgages easy and, through our new partner platform, we promise our partners’ customers will receive the same delightful experience as those coming direct to Mojo.”
Mr Hayes said Mojo’s platform also provides up-front commercials, real-time management information, custom reporting and dedicated account managers.
Eddie Ross, chief product officer for Mojo Mortgages, said: “We are very excited to launch our partner platform and in the coming months expect to announce a number of strategic partnerships with some major brands.”
He added: “Our focus with the partner platform was to give our partners a number of options tailored to their development capabilities and immediate requirements.”
According to Mr Ross, Mojo has a dedicated product development squad solely focussed on constant iteration and improvement of the partner platform, which he commented was “to ensure we become the only choice for potential partners”.
Alan Lakey, director of Highclere Financial Services, stated that he welcomes technological development in the mortgage market.
“In general, any easy-to-use technology, which speeds up the time spent on the essential but time-consuming aspects is always welcome,” he said.
Aamina Zafar is a freelance financial journalist
