RVU is a media brand which owns Uswitch, Confused.com and Money.co.uk. This move will allow the company to facilitate all parts of the mortgage journey for its customers, from the searching of suitable products to the application and offer process.
Mojo Mortgages is a free online mortgage broker which was launched to the market in 2018. The firm has partnered with a number of websites in the past, including its contract with GoCompare last month to utilise Mojo’s technology for mortgage searches.
Its deal with GoCompare and other digital partners will be unaffected by this acquisition.
The transaction is subject to regulatory approvals and customary closing conditions.
Tariq Syed, CEO of RVU, said: “Millions of mortgage seekers are coming to us through trusted sites like Money.co.uk, Uswitch and Confused.com. Owning every part of the process means we can improve their experience from start to finish. This is a unique fusion of capabilities, combining our growing audiences with the most advanced digital broker in the UK.
“Digitalisation has been sluggish in the mortgage sector but together with Mojo we will have the teams and the tools to supercharge the process and give consumers the experience they deserve.”
Richard Hayes (pictured), co-founder and CEO of Mojo Mortgages, added: “We’re delighted at the prospect of joining the RVU team and are looking forward to working with some exceptional people and amazing household brands.
“Three years ago, we started Mojo with a clear vision to make everyone feel more confident about finding a great mortgage deal. This significant next step in our journey makes that vision a reality on a scale we could have only dreamt of back then.”
“We’ll look to revitalise the UK mortgage ecosystem while creating remarkable digital experiences for both our colleagues and our customers.
“Alongside RVU, we’ll be at the forefront of positive change for the UK mortgage market. We can’t wait to get going,” Hayes said.