Mortgages 🏠


(Richard Cook) #1

There’s lots of stress and paperwork in taking out or renewing a mortgage. Many people avoid it, even when the interest rates on their account rise. We think it could be simpler and much quicker.

This is still very early days, so we don’t have much more to share at the moment. But stay tuned! :eyes:


(Marcus Nailor, Hot Coral Detective) #2

A Monzo Mortgage? :eyes: Wonder if it’ll be a native offering or via a 3rd party :tada:


#3

Definitely an intergration, @tom has been open about this will try and find a link


(Matt C) #4

Ooooh, I’m planning to buy later this year so this could be perfect timing for me!


(Jack B) #5

Perhaps you could do something with a pot and show how much that pot could be used as a deposit and how much you would be able to borrow?


#6

I’d imagine this would be an integration with a broker of some sort.

I can’t see Monzo offering their own mortgages yet.

Hopefully the broker can actually provide market leading rates though!


(Jack) #7

I’ve read somewhere on here it’s going to be with brokers such as Habito.

Edit: found it.


(Michael) #8

I had a phone call with Monzo about my experiences with Mortgages, and how I feel the current mortgage offerings can be improved etc. Really excited to see where this goes!


(Kevyn) #9

I can’t see what Monzo will bring to the table if it is just a broker marketplace. It would just create another middleman layer between the broker, the mortgage company and the customer. Monzo Mortgages, on the other hand, would be very interesting!


(Colin Robinson) #10

House has to be same colour as the one on the left though :wink:


(Michael) #11

One of the annoyances that I conveyed in my phone call was having to do things like prove identity and provide bank statements.

With the fact my bank has all that, and I am applying for the mortgage, why can’t I just allow my bank & mortgage company to communicate these required things?

This, I hope, is where Monzo can help … one centralised place, without me having to do 101 things via post to different people etc.


(Kyle Risi) #12

:heart_eyes: my buddy used to live in that pink house on the left!


#13

Very exciting but starting to worry you are spreading yourself too thin?
Isa
Business
Monzo plus
Mortgages
etc.


#14

Tbf it has always been Monzos intention to become a ‘financial hub’


#15

Just nothing to announce.


#17

I dont get why you are being so negative on this. I like many other are happy to hear that this is being considered even with limited information.


#18

Where is negative?!
I can’t understand the reason.
It’s my opinion. ISA and mortgage topics are pointless. Like guys we are working on something.
Last week my wife lost few hours because she was unable to use Asda payatpump at the early morning. I have to say something positive? No.
I already closed my Monzo account my wife will do the same.


#20

I want Monzo to become better to reopen account :slight_smile: in future… as I can’t use Monzo as main account at the moment…


(Rob) #21

Makes no sense to close, only to reopen in future… simpler to just stop using it lol.


#22

I understand and think it is a great idea. My only point was there seems to be a lot of things in the pipeline but potentially less than expected coming out the other end