Monzo Bank and Mojo Mortgages are to collaborate on a feature to help homeowners find personalised remortgage deals, allowing Monzo customers to use an app to book an advice call with one of Mojo’s mortgage experts in order to compare deals. The system is currently under trial, with 2,000 customers ‘testing’ the app. Richard Hayes, chief executive officer and co-founder of Mojo, noted that: “The way people get mortgages is changing and customers expect more than a basic best buy comparison experience.” He continued: “We believe advice is a key part of the process and our hybrid broker/technology proposition means businesses like Monzo can offer their customers a truly end-to-end mortgage journey.” The firm claimed to have so far helped almost 50,000 people, saving customers £4m in brokers’ fees via its online mortgage service. Chief product officer Eddie Ross, stated: “By utilising our partnership APIs, Monzo can offer their customers a fully extensive range of personalised deals and access to free real-time mortgage advice all from within the Monzo app. There’s nothing else like it in the market and we expect to set a new benchmark in terms of what customers expect from a mortgage experience.”
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