A digital start-up that uses algorithms to match the requirements of landlords against the entire buy to let mortgage market of over 2,000 products is set to expand.
Property Master was launched last May; a minority stake is owned by LSL Property Services, which operates Your Move and Reeds Rains.
Now it is seeking additional crowdfunding investment through the Seedrs site.
“It’s ... a market ripe for the kind of disruption we have already seen new technology bring to other areas of the property market with online estate and lettings agencies as well as digital residential mortgage brokers” according to its chief executive, Angus Stewart.
“Our first step is to continue to revolutionise the way private landlords look for mortgage finance which we do by matching individual landlords with the best deals available to them at that moment in time” he continues.
“We have completely automated a what was a manual, complex process so we can provide individual landlords with an easy to access and free mortgage advisory service with the added bonus at the end of it of actual pre-approved mortgage offers. Over 10,000 landlords have already tried us out and a typical remortgage saving is around £1,800.”
The bid for expansion by Property Master comes as recent figures from UK Finance show remortgaging to be at record levels as borrowers seek to lock in low interest rates ahead of base rate moves.
“We are on track to developing a uniquely comprehensive range of online landlord services enabling the convenient management of properties at lower cost, including sophisticated portfolio finance tools of interest to landlords with multiple properties” says Stewart.