Wondering how long it will be until you can buy a place of your own? Our new app’s got the answer.
For many, saving to get on the housing ladder can be a disheartening process. The financial acrobatics and the constantly changing political goalposts add up to a good deal of uncertainty about just how long it will take to buy a home.
At TMP The Mortgage People, there’s nothing we hate more than doom and gloom, so we decided it was time we made a difference. Or at least made an app.
And not just any kind of app. An industry-first kind of app.
Allow me to explain
If a prospective homeowner feels like they’re never going to get their feet on the first rung of the property ladder, what are they to do? Slink away to a lifetime of letting and random saving?
We think not!
In just five easy-to-answer questions, the Mortgage Ready app can help wannabe homeowners to understand exactly how far they are from buying their own property. And even better, it can inspire and encourage them to put a plan in place to make it happen.
If not now, when?
The app’s algorithm is able to work out precisely how many months it will take someone to get Mortgage Ready just by entering the type and value of their dream property, as well as simple information about their financial situation.
It’s a big step up from an affordability calculator as it can predict when someone will be able to buy – not just if.
Plus, it’s easy to update if anything changes. Enter the details of a windfall or pay rise and the app will instantly recalculate to provide a new (hopefully shorter) timeline.
Not only that, Mortgage Ready will provide useful tips and advice to help throughout the home buying journey, notifications when market conditions change and, in future, even discounts from our trusted partners.
Why we did it
Ultimately, we spotted a real need to help those who aren’t quite there yet when it comes to mortgage affordability. This tool helps them understand exactly how far away they are and what they’ll need to do to get there – which gives us the opportunity to provide great suggestions to speed up the process for them. A lot of people have never heard of Shared Ownership, for example, and don’t realise it might be an option to help them buy a house much sooner than they thought.
Fancy taking our app for a spin?
To find out more about Mortgage Ready, download the app for FREE by heading to the App Store or Google Play and searching Mortgage Ready. How long will it take you (or someone you know) to buy that dream home?