The Zoopla-backed online mortgage broker making home ownership more accessible
Founder: Ishaan Malhi
Founded: February 2015 (launched December 2015)
Traditional mortgage brokers ask a lot from aspiring homeowners: hours of their time, mountains of paperwork and average fees of £500.
Online mortgage broker Trussle aims to cut all of this out, helping people get the right mortgage without stress and additional expense.
Created by former mortgages and real estate analyst Ishaan Malhi, Trussle’s online profile takes no more than 10 minutes to complete, and the platform enables borrowers to view the status of their application 24 hours a day, seven days a week. With a replica of a lender’s affordability calculator, the platform also enables users to work out the maximum amount they can borrow without trudging to the bank.
Furthermore, Trussle’s continuous monitoring service constantly compares customers’ existing mortgages with over 11,000 deals from 90 lenders, notifying users when it makes sense to swap to a more suitable deal.
In September 2016, Trussle launched a partnership with property marketplace Zoopla, encouraging customers to find and finance a home in “one seamless online journey”. Driving over £5m worth of mortgage enquiries per day, the partnership led to Trussle being shortlisted for the Innovation in Personal Finance Award at the 2017 Moneyfacts Awards.
Thanks to its simple and refreshing approach, Trussle is now handling over £1bn worth of mortgages on behalf of thousands of UK customers, and has attracted £5.6m investment to date from the likes of Zoopla, LocalGlobe, Betfair founder Ed Wray and founder of Songkick Ian Hogarth.
The next 12 months promise big developments for Trussle, with plans to increase mortgage transactions from 0.3 million to two million per year, develop its integration with Zoopla and launch new partnerships with firms including uSwitch and Noddle. All of this will help Trussle continue to bring its vision of a nation of people “controlling their own futures” to life.