Buy-to-let mortgage app Rightrate is planning to expand its support for brokers and landlords after passing the 500-plus downloads milestone since launch this year.
It currently covers more than 30,000 mortgage products and enables brokers and landlords to “instantly” find the product offering the best return on investment across 85%, 80% and 75% loan to value irrespective of bands.
New features are being developed in response to growing feedback to add to the current range which includes the ability to save searches across different properties and a built in remortgage facility helping users to decide whether they can save on their current mortgage or can raise capital.
Launched in January by Mortgages & Insurers Solutions, a member of The Openwork Partnership network, it provides detailed information on property values and uses an artificial intelligence driven product sourcing system.
The free to download app, which calculates the best product rates available, and the deposit needed to achieve the best return on buy-to-let investments, also delivers a compliance report showing the product delivering the best return on any given day.
Mark Edwards, principal, 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.”
