Multiply AI gives automated advice to users by recommending investment, savings and stock products based on earnings, expenses and savings. It also suggests how much money users should put into each recommended financial product to reach a savings goal.
Its recommendations aim to help users get onto the property ladder and grow wealth over the long term.
Users who are ready to apply for a mortgage will be directed to the Mojo Mortgages’ website from the app. They then answer questions on their financial circumstances, how much of a deposit they have and the value of the property they are looking at.
A Mojo Mortgage adviser will then contact the client to give them advice and proceed with their mortgage application as normal.
Vivek Madlani, CEO of Multiply AI, said: “Our partnership with Mojo will help homebuyers from the point at which they decide to start saving their deposit, all the way to getting their keys.
“Mojo shares our ambition to democratise access to financial advice and remove key barriers to entry for first-time home buyers – namely financial knowledge to saving and getting the right mortgage. Together we are delivering a complete online experience that is easy to understand, cost-effective, fast and transparent.”
Richard Hayes, CEO of Mojo, added: “Many first-time buyers have seen their plans disrupted over the past year, and most will want to make 2021 the year they get on the ladder – particularly if there is a softening of house prices after the stamp duty land tax holiday.
“This partnership gives them the quality advice and confidence they need to make better and more informed decisions about the biggest investment they will ever make in their life.”