'Free' digital mortgage broker launches nationwide

'Free' digital mortgage broker launches nationwide

Digital estate agent and mortgage broker Strike has launched in London and the south of England, after operating for the last few months exclusively in the Midlands and the north of England.

The company, which received funding from Channel 4 Ventures and Direct Line founder Sir Peter Wood last year, helps homeowners buy and sell their properties.

Claiming to save homeowners £4,779 in commission on average, Strike makes money by earning a fee from partner companies advertised on its platform, which provide - among other things - removal services. 

Strike employs 55 brokers and is an appointed representative of the Mortgage Advice Bureau.

The recently capitalised firm evolved from Housesimple, an early online estate agent which re-branded and expanded in 2020 to become Strike.

The company says it has access to 12,000 mortgages and has arranged £770m in loans.

“From day one, we knew the potential in what Strike could achieve and our regional launch has proved the thirst for it,” said Sam Mitchell, the company's chief executive.

“Since our last funding round, we’ve continued to invest in technology so there’s a seamless selling experience. 

“We’re confident we’ll be the obvious choice for anyone looking to sell this year who wants a straightforward, no cost option, that puts them in control.”   

In July, Strike landed £11m in funding. Channel 4 Ventures invested for the first time, as part of a media-for-equity deal.

The company has invested some of this cash into a multi-media online marketing campaign which has focused on radio and TV adverts targeting London.

“Strike is shaking up the sector like no other and revolutionising how people move home,” said Channel 4 Ventures’ Vinay Solanki and Hannah Redgewell.

“There are many synergies between our brands, and we’re excited to give access to our influential marketing platform to help Strike reach even more sellers across the UK.” 

The company claims to have helped more than 56,681 people move home, having sold properties collectively worth some £5.42bn.