Tue, 10 Aug 21
Buy to let mortgage app Rightrate is to expand its support for landlords after passing the 500 downloads milestone since launch this year.
It currently covers over 30,000 mortgage products and enables landlords to identify deals offering the best return on investment across 85, 80 and 7 per cent loan to value.
Now the people behind the app says features are being developed in response to landlords’ feedback - including adding the ability to save searches across different properties and a built-in remortgage facility helping users to decide whether they can save on their current mortgage or can raise capital.
Launched in January by Mortgages & Insurers Solutions, the app provides detailed information on property values and uses an Artificial Intelligence.
The free to download app, which calculates the best product rates available and the deposit needed to achieve the best return on buy to let investments, also delivers a compliance report showing the product delivering the best return on any given day.
Mark Edwards, principal, Mortgages & Insurers Solutions, says: “We developed the app to address a gap in the mortgage advice process facing brokers who had no easy way to calculate the best returns on buy-to-let investments.
“The number of downloads since launch demonstrates the strong demand among brokers and landlords for the app and the regular feedback, we receive shows the value the app is delivering as well as highlighting to us what other features are needed to further enhance it.”
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