According to a survey by online mortgage broker Trussle, 70% of homeowners want mortgage lenders to go digital with 625,000 claiming that they suffer from “mortgage stress”.
Ishaan Malhi, CEO and founder of Trussle, said: “I’ve experienced the frustration of struggling to secure a mortgage first-hand. There’s too much jargon, too much complexity, and not enough transparency. Millions of people lose out not only financially, but emotionally as a result. Your mental health is no less important than your financial or physical health, so I’d like to see modern brands working hard to reduce the friction and stress of their products and services.”
The digital transformation of the housing and property sector is taking place across all aspects of the industry, and mortgage lending could be the next big proptech target… According to a survey by online mortgage broker Trussle, 70% of homeowners want mortgage lenders to go digital with 625,000 claiming that they suffer from “mortgage stress”. The survey, part of April’s Stress Awareness Month, asked 2,000 UK mortgage borrowers what aspects of buying a property they found the most stressful. The overwhelming response is that they want to be able to search, apply and manage their mortgage applications online; and the good news is that mortgages are already “going digital”.
