A recently launched digital buy-to-let mortgage brokerage service that enables landlords to find, compare and secure the best mortgage deals available for their BTL portfolio, is seeking fresh funds for expansion with a view to becoming the ‘destination site’ of choice for private landlords looking for products and services to support their business.
Property Master, which provides what is believed to be the first online service of its kind in the UK that enables private landlords in this country to take control of their portfolio financing online by comparing buy-to-let mortgages and lending criteria to match their funding requirements, uses a database and sophisticated search algorithms that have been specifically designed to meet the needs of buy-to-let landlords.
But while Property Master allows landlords to conduct simple “what if” searches to find and apply for a mortgage online with a single click, it wants to go further by broadening its product range of additional services such as conveyancing and insurance.
The digital buy-to-let start-up is looking to support its additional growth by launching a new round of fundraising through crowdfunding site Seedrs.
Angus Stewart, chief executive, Property Master, explained: “Our vision is to become the destination site for private landlords looking for the products and services needed to support their business.
“With an estimated two million private landlords in the UK this is an attractive market to be in. It’s also a market ripe for the kind of disruption we have already seen new technology bring to other areas of the property market with online estate and lettings agencies as well as digital residential mortgage brokers.”
Stewart added: “Our first step is to continue to revolutionise the way private landlords look for mortgage finance which we do by matching individual landlords with the best deals available to them at that moment in time.
“Essentially, we have completely automated what was a manual, complex process so we can provide individual landlords with an easy to access and free mortgage advisory service with the added bonus at the end of it of actual pre-approved mortgage offers. Over 10,000 landlords have already tried us out and a typical remortgage saving is around £1,800.”
Stewart believes that his firm is now moving into a new phase as it is on track to developing a comprehensive range of online landlord services enabling the convenient management of properties at lower cost, including portfolio finance tools of interest to landlords with multiple properties.
Stewart continued: “This will form a bundled premium fee-based service adding to the commissions we receive from the lenders we link up with prospective borrowers. We are excited to be talking to new potential backers and would urge anyone interested in joining this fundraising round to visit the Seedrs site.”