15 February 2018
REVISED SPEAKER AND TOPIC: Addressing the mortgage nightmare
CHANGE OF SUBJECT AND SPEAKER Ishaan Malhi, Founder, Trussle
DUE TO THE ORIGINAL SPEAKER AND COMPANY HAVING A DIARY CONFLICT, WE ARE GRATEFUL TO ISHAAN MALHI, THE FOUNDER OF TRUSSLE, FOR STEPPING IN TO PRESENT HOW A NEW FINTECH START-UP COMPANY IS REDESIGNING THE MORTGAGE PROCESS
Becoming a homeowner is a huge and happy milestone in most people’s lives. But the journey there has never been more difficult. If trying to keep up with soaring house prices wasn’t hard enough, aspiring homeowners often face a painful and fractured experience trying to secure a mortgage. In fact, there is a wealth of research highlighting the difficulties faced by homebuyers such as the recent study by Trussle which found that one in 10 first time buyers are actually reduced to tears by the traditional mortgage application process. This is why Ishaan Malhi founded Trussle,the UK's first online mortgage broker. The service searches through more than 11,000 deals from 90 different lenders to find and secure the user a mortgage that best suits their needs. Trussle then continues to monitor the market to alert them if a more suitable deal becomes available later on.
The company raised £4.5m in February 2017 in a round led by Orange Growth Capital, with participation from LocalGlobe, Zoopla and Seedcamp. It now boasts a team of 57 and has launched exclusive partnerships with a number of big names in the property technology (proptech) space including Zoopla, uSwitch, Noddle, HouseSimple, and Revolut. It is currently handling more than £1bn worth of mortgages for thousands of homeowners across the UK.