Better buys UK digital mortgage broker

US digital homeownership platform Better HoldCo is buying digital mortgage broker Trussle.

Better said the acquisition of the British business will help it enter the £1.5 trillion mortgage market in the UK.

“Better eliminates the high financing costs, massive transactional friction, tyranny and mind-numbing bureaucracy that comes with getting a mortgage and buying a home in the UK via a high street bank,” said Vishal Garg, founder and chief executive of Better.

“We researched the UK market and were surprised to see how we could make it so much better for consumers buying and financing a home for the first time. We found a kindred spirit in the team at Trussle who have developed a platform that we can work alongside to help every Briton own their own home.”

Garg added: “Making homeownership affordable and accessible for all customers is a key tenet of a well-functioning credit system and we are here to help grow Trussle and make it even better.”

Trussle aims to accelerate the company’s entry into the UK market with an experienced management team, local knowledge and foundational mortgage technology for the UK.

Trussle captures data on customer demand, lender pricing and risk eligibility matrices that can provide insights when analysed using Better’s technology.

“Better and Trussle were both founded on the understanding that consumers increasingly prefer to use online services to shop for and transact on major life purchases,” said the chief executive of Trussle, Ian Larkin. “It is 27 years since the World Wide Web was launched and most consumer industries have embraced it by now but the UK mortgage market is still characterized by analogue systems and processes.

“This market should not require consumers to apply for a mortgage 5 months before the end of the Stamp Duty holiday.”

    Share Story:

Recent Stories


The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.