Bob Hunt, CEO of Paradigm Mortgage Services, has invested an undisclosed sum in Dashly, a mortgage switching platform.
Hunt has also become a non-executive director at Dashly with immediate effect.
With Dashly, consumers are alerted the moment it pays to take out another mortgage after all switching costs (e.g. legal, product and early repayment fees) have been taken into account. It does so without users having to manually update their mortgage data.
Hunt (pictured) said: “In recent years we have seen a number of new digital entrants trying to disrupt the mortgage sector but the changes they’ve brought are more style than substance. Dashly by contrast, which taps into the open banking revolution, is rethinking the entire mortgage industry and its vision is one I immediately bought into.
“Dashly does something totally unique in that it puts the consumer first, embeds the broker in their clients’ financial lives and at the same time empowers lenders by enabling them to target the exact borrowers they want. This is a company that optimises the loans of borrowers and lenders alike but at the same time puts brokers in a pivotal position. It’s an SVR killer, but one that causes no collateral damage to the rest of the industry.”
Ross Boyd, founder of Dashly, added: “To have someone as respected in the mortgage industry as Bob Hunt join the team and back Dashly is a major boost for everyone here and confirms that we are on the right track. Bob’s understanding of the sector is second to none and for him to come onto the Dashly board is further validation of the customer-centric changes we have on our roadmap.
“Within the mortgage sector, the emerging technologies currently leveraging open banking, big data and AI are set to genuinely put customers first and fundamentally shift the balance of power to the consumer. But in Dashly neither the lender nor the broker loses out. In fact, both are empowered like never before.”