Buy-to-let (BTL) mortgage app Rightrate has launched a range of features, including the ability to save searches across different properties and a built-in remortgage facility.
The remortgage facility is designed to help users decide whether they can save on their current mortgage or can raise capital.
The app currently covers more than 30,000 mortgage products, and enables brokers and landlords to find the product offering the best return on investment across 85%, 80% and 75% loan-to-value (LTV), irrespective of bands.
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Launched in January by Mortgages & Insurers Solutions, a member of The Openwork Partnership network, Rightrate provides information on property values and uses an artificial intelligence (AI) driven product sourcing system.
The app is free to download, and calculates the best product rates available, and the deposit needed to achieve the best return on BTL investments, delivering a compliance report showing the product delivering the best return on any given day.
Mark Edwards, principal of Mortgages & Insurers Solutions, said: “We developed the app to address a gap in the mortgage advice process facing brokers who had no easy way to calculate the best returns on buy-to-let investments.
“The number of downloads since launch demonstrates the strong demand among brokers and landlords for the app and the regular feedback, we receive shows the value the app is delivering as well as highlighting to us what other features are needed to further enhance it.”