Moneybox launches mortgage advice service to help users on their home-buying journey

The fintech has partnered with the Mortgage Advice Bureau to ensure it is offering the best products and help to its customers. 

Savings and investment app Moneybox has put down more roots in helping customers on their home-buying journey, launching its first mortgage advice service.

The fintech has today opened the doors to its mortgage advice service beta, which is fully integrated into the Moneybox app, and will give its users the tools to find the right mortgage for them.

Moneybox has already helped hundreds of thousands of customers save for their first home through its Lifetime ISAs and now is helping them on the next step.

Ben Stanway, co-founder of Moneybox, said: “We are on a mission to help everyone save and invest for their future, and for many, that future includes homeownership. We are already helping hundreds of thousands of people save for their first homes, but we’re aware that the home-buying journey goes far beyond saving up for a deposit. 

“We want to give people the tools and information they need to save for a deposit, and then the qualified advice to help them make an informed decision on what the right mortgage is for them. By offering customers everything they need  in one user-friendly service, we want to bring the joy back to home-buying.”  

As part of the new service, a dedicated team of mortgage advisers will offer a free and impartial service to help customers find the right mortgage for them.

In a recent survey of 3,000 Moneybox users, over half (54.3 per cent) didn’t know what type of mortgage to apply for and the majority (54 per cent) said that finding a mortgage with a low-interest rate was a top priority.  

Sania Kudaibergen, head of Mortgages at Moneybox added: “Buying a home should be one of the most exciting moments in people’s lives, but too often the process is fraught with worry and confusion, and people can end up with mortgages that aren’t right for them.”

“We want to streamline the mortgage application process, and have built a team of experienced advisers who pride themselves on offering free and qualified advice whenever you need it in your savings journey.”

To ensure they offer the best products possible, Moneybox is working with the Mortgage Advice Bureau and will offer products to first time buyers, next time buyers and those looking to remortgage.

Launched in 2016, Moneybox has amassed over 500,000 savers and has over £1bn in assets under management.