OpenMoney has partnered with technology company Iress to help address the ‘gap’ in the market for holistic, fast-paced, digital advice for homeowners.
Once launched the service powered by Iress will aim to provide every customer a full recommendation for a mortgage within minutes.
OpenMoney is reportedly the first provider to offer both mortgage and protection advice online.
James Brocklebank, head of mortgages at OpenMoney, said: “Teaming up with Iress enables us to provide the most cost-effective mortgage offering for our OpenMoney customers.
“When we launch next year, we’re committed to offering a full-service package, with holistic advice for would-be homeowners available when they need it – 365 days a year.
“We see this development as a way of expanding our offering at OpenMoney and providing a full-service package to help people navigate through various important stages in their lives – of which we believe buying a home is a crucial part.
“What we will deliver, through the support of Iress, will be an industry first and a ground-breaking new offering for the market.
“We’ve already made great progress over the coming weeks and can’t wait to put our plans into place ready for next year.”
This latest partnership follows the announcement earlier this month of OpenMoney’s alliance with Uinsure to provide customers with a general insurance quote via Uinsure’s API.
Dave Miller, executive general manager – commercial at Iress, added: “We’re delighted to partner with Open Money on this innovative offering, which draws on our market-leading sourcing data and software, to make it easy for customers to find and apply for the right mortgage and protection products for their needs.
“We look forward to a long and successful partnership.”