Financial advice service OpenMoney has brought out an online service, Home, offering free advice for first-time buyers.
The service will initially be targeted to employed first-time buyers in England and Wales.
The platform has access to 50 lenders, as well as suggestions on solicitors, insurance, wills and surveys. It can also offer tailored advice and access to human advisers by phone.
Research by the advice firm showed nearly half of first-time buyers are not confident in the house buying process, including choosing solicitors, mortgage deals and insurers.
OpenMoney head of home, Karina Hutchins, said: “Buying a house is a huge financial commitment, but the process can be confusing, involving multiple parties and so much jargon that it feels overwhelming, especially for first-time buyers.
“Our new service aims to simplify the process and guide customers through the whole home buying journey to ensure they understand the impact different mortgages will have on their finances and which products they need and where to find them.”
OpenMoney co-founder, Anthony Morrow, added “Buying a property is expensive and we fundamentally disagree with mortgage providers that charge people for advice.
“Applying for a mortgage used to be difficult, but now we offer customers an online account which includes advice, recommendations, and document upload to make the process easier.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
