UK-based property and fintech platform OneDome has announced the acquisition of digital mortgage broker Trussle, trading as Better.co.uk, from Better Home and Finance Holding Company.
The transaction is subject to final approval by the Financial Conduct Authority (FCA).
OneDome integrates mortgage, legal and insurance services into a “digital homebuying journey”. Its HomeBuyer Service bundles mortgage advice, conveyancing, and insurance into a single fixed-price package.
The acquisition of Trussle is intended to enhance OneDome’s offering and move it closer to its goal of facilitating 10% of all UK housing transactions within five years.
Trussle, founded in 2015 as the UK’s first fully digital mortgage broker, was acquired by US-based Better Home and Finance in 2021.
“This deal gives us greater firepower to serve homebuyers and deliver a best-in-class digital journey,” said Babek Ismayil, founder and CEO of OneDome. “We’re thrilled to welcome the Trussle team into the OneDome Group and look forward to building something even more impactful together.”
Following completion, the combined group is expected to facilitate over £3.5bn in annual mortgage lending, process around 1,100 property transactions per month, and employ more than 230 staff, including 105 mortgage, protection and financial advisers.
Kevin Ryan, president and CFO of Better, said: “We’ve thoroughly enjoyed working with OneDome throughout this process and are excited about their vision for the future. We wish the Trussle team every success as they enter this new chapter under OneDome’s leadership.”
Read the orginal article: https://propertyindustryeye.com/ambitious-proptech-platform-acquires-digital-mortgage-broker/
