The new technology from fintech start up, Nuvo, means home viewers could have an offer accepted on their dream house even before the estate agent has got back to their office.

Dubbed 'Fast-Time Buyers', Nuvo uses cutting edge technology to find potential homeowners and homemovers the right mortgage, and provide a mortgage in principle in less than 15 minutes.

Traditionally, would-be-buyers could be expected to wait up to 24 hours to find their perfect mortgage. Where other providers have previously announced their intentions to be able to find the right mortgage in 15-minutes, Nuvo has made it a reality.
Taking less time than Elon Musk took to launch the Tesla into space, the application can be done at any time of the day, meaning applicants are not tied down to the often inconvenient 9am - 5pm working hours of banks and traditional brokers.

In addition to being able to apply for a mortgage in under 15 minutes, Nuvo also has a quick and accurate mortgage calculator, which can give house-hunters a feel for their options in less than a minute. Most potential buyers go online to look for homes at 9pm on Tuesdays, according to new data released by Rightmove.co.uk.* Would-be homeowners can now work out if they can afford properties as they browse, not having to rely on the working hours of a traditional broker to get their quotes or obtain their mortgage in principle.

With an AI-powered chatbot that allows customers to ask questions at any point during the mortgage application process, they can feel confident that the information they are providing will result in an accurate search.

Nuvo provides the fastest search of 30,000 mortgage products to find the most suitable offer. Customers can also see and compare all of the options they are eligible for, to make sure that they are getting the best deal for their circumstances, eliminating the need for a traditional broker.

This brand-new offering brings good news to house hunters, who often hear all about the uncertain housing market which is currently facing challenges such as unstable asking prices and the impending Brexit fall out.

Richard Hayes, Co-Founder and CEO of Nuvo said: "Millennials now expect to be able to transact digitally. Whether searching for a first mortgage or looking for a hassle free re-mortgaging process, the mortgage sector so far has not been able to innovate to meet the demands of the customer. Nuvo seeks to change that.

"First time buyers, who are often Millennials, accounted for 28 per cent of the mortgage market last year. The shift in customer expectation, coupled with our talented tech team, has converged to allow us to create the 15 minute decision and introduction of the Fast-Time Buyer."

In 2016, 80% of mortgages were secured through a broker. 75% of people pay a fee for this advice, typically around £500. The Nuvo service is fee free, so not only does it save you time but it also saves you money too.

Hayes continues: "We all know that buying a house is a costly process. We aim to cut those costs as much as possible. Why pay £500 when you can get great advice and an even better service, at a time that is convenient for you, for free?

“Behind the technology there is a team of qualified mortgage experts on hand to help and guide customers through the process should they want to speak to someone. We manage everything through from start to finish taking the hassle and stress away from the customer”