Online computer tech

The future of mortgages; as simple as buying car insurance

Over the next decade, many borrowers will find making a mortgage application is as simple as buying car insurance, as the housing sector undergoes a technological revolution, according to a fintech expert.

Pete Mugleston, of Online Mortgage Advisor, believes that the improvements to finance-based technological processes will soon mean that most borrowers will be able to find mortgages to suit their needs with ease.

Up until 2012, most borrowers applied directly to a bank or a building society, but by 2014 more than 60% of mortgage loans were arranged through brokers. If the way forward is a simplified mortgage application process, not only will consumer borrowing feel the impact, mortgage brokers could face dramatic implications too.

Mugleston claims: “We are on the verge of some real breakthroughs with APIs [application programming interfaces] and automation, and I can see, in another ten years, the mortgage application being as simple as car insurance for many borrowers.”

Lenders leading the way

Online broker Habito has seen exponential growth rates since 2016 as it set about transforming the mortgage experience for borrowers and last year announced a move into the lending market. At the end of 2019 it launched the ground-breaking residential product, Habito Go; a service that gives would-be homeowners the chance to boost their bid and upgrade their mortgage to a cash offer upfront, giving buyers huge speed and certainty advantages and greater price negotiating power with sellers.

Late last year, Natwest struck a deal with real estate blockchain network start-up Coadjute to create a fully app-based process for buying and selling houses using blockchain technology.

HSBC has also invested heavily to reduce its mortgage application process from 50 days to just one week. Chris Pearson, head of intermediary mortgages at HSBC, says: “We have improved customer service and the customer journey while utilising technological advancements and significantly reducing our time to offer, which is pretty phenomenal.”

Mojo Mortgages launched a ‘white label’ plug-in for third parties (it partners with UK online estate agents and proptech firms) and has processed £140 million in home loan referrals in just one year.

Richard Hayes, co-founder and CEO, says: “We’re on a mission to create a better mortgage experience for everyone, which is why we launched our strategic partnerships platform last year.”

“Since then, the platform has won an industry-leading award, and we have helped thousands of customers get a mortgage, or remortgage through it.”

Proptech pioneering change

The proptech market is a fast-growing sector with several new UK companies focused on making what can be a stressful mortgage applications process into a much easier one.

Research by R&D tax credit specialist RIFT Research and Development Ltd found that the UK property sector is leading the way when it comes to the largest sums awarded in R&D tax relief as a percentage of expenditure.

Sarah Collins, director of RIFT Research and Development Limited, said: “The latest data demonstrates that when it comes to the sector making the most of R&D tax relief, the property sector really is leading the way…this comes as no surprise with the explosion of the proptech sector radically changing the way we operate within the property space, whether it be as a consumer or as a working professional.

“As a result, there has been some huge advancements in recent years with a vast number of companies pioneering change across the board from the way we apply for a mortgage, to the way we list and sell our homes, even within additional services such as moving home…”

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:


Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment


Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:


+44 (0) 333 123 0320

Open from 9am-6pm GMT


+852 6699 9008

Open from 9am-6pm HKT