Potential buyers using Zoopla and Trussle’s service will have access to over 90 lenders and 11,000 mortgage deals to find the best match for them.
Ishaan Malhi, founder and CEO of Trussle, said the partnership with Zoopla was “an industry first”.
“By harnessing the power of Trussle’s digital advice service, this partnership with Zoopla is finally solving the frustrations of home buyers across the UK. Gone are the days when people have to jump through countless hoops before being able to put a serious offer in on a house,” he added.
“Now, home hunters can find a property, and get the green light for finance, all in the same place. Not only does this make the process of buying a home refreshingly straightforward, but improves the buyer’s negotiating position as well, which could lead to significant financial savings.”
House buyers will be required to enter a few initial details to find out in 60 seconds what they can afford to borrow and what the monthly payments would be. Once details about income, outgoings and personal circumstances are entered, house hunters will receive a Mortgage in Principle in less than five minutes.
The process is intended to give vendors and estate agents confidence that the potential buyer is serious, has their finances in order and is transaction ready, thereby giving the buyer credibility and putting them in a strong negotiating position.
Consumers will also be able to find properties within their mortgage affordability range more effectively once details have been logged via the Trussle tool, with these properties indicated by a green tick on for sale property listings.
Lawrence Hall, spokesman for Zoopla, said: “With over 90% of home hunters starting their search online, it makes complete sense for Zoopla to offers its users the Trussle service and give users the chance to secure a mortgage in principle online. For first-time buyers and home movers, being able to signal to estate agents that they are transaction ready and have a mortgage in principle is an extremely powerful position to be in ahead of making an offer on a property.”