Mojo Mortgages has launched “industry-first” mortgage matcher technology. The company says the technology will allow borrowers to compare the best rates their current lender is offering against everything else in the market – and is capable of saving UK homeowners £159m a year. Richard Hayes, CEO of Mojo Mortgages, said: “We found 93% of people offered a PT [product transfer] could save money by switching.” He added: “It’s a bit of a myth that you can’t use a broker to do a PT, an expensive myth. The relationship between a broker and a customer isn’t over after the first mortgage – that’s a transaction . . . We’re the only place where you can see your product transfer options against the market online and then get expert advice from an adviser if you need it.”

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