Trussle, the online mortgage adviser, today announced its mission to help millions of UK homeowners save money, with its free service that automatically determines when borrowers are paying over the odds for their mortgage and helps them switch products.
HSBC recently revealed that nearly one in two UK homeowners are losing £4,000 each year by not remortgaging to better deals available on the market. Industry experts estimate this to be a staggering total of £29Bn across the UK, and points to borrowers simply lacking the awareness, time and expertise to manage their mortgage effectively.
Founded by Ishaan Malhi (previously in Mortgages at Bank of America), and Jonathan Galore (a co-founder of Wealthfront – the Silicon Valley automated investment service), TRUSSLE is the UK’s first and only regulated online mortgage adviser – created to give borrowers peace of mind that they will never pay more than they should.
Directly targeting the £29Bn financial black hole impacting UK homeowners, with a few basic details TRUSSLE’s technology compares a borrower’s current mortgage against over 10,000 others, instantly recommending if a user should switch, and how much they could save.
Unlike banks, comparison sites or independent advisors, TRUSSLE is ‘always-on’ to ensure borrowers are notified when a better deal is available, and manages the entire remortgage process for them.
Ishaan Malhi, Founder of TRUSSLE, said:
From my own experience mortgages are a headache. Homeowners in the UK are victims of an industry cluttered with conflicting information, archaic processes, and advice that doesn’t make any sense.
Borrowers don’t want to be restricted to mortgages offered by a single bank, nor overwhelmed with thousands of different mortgages.
Through expertise and smart technology, TRUSSLE ensures users are always on the right deal for them and manages the biggest financial commitment of their life so they don’t have to.