Property investors looking to understand the equity that they have to play with for their next purchase, can now do so with the launch of a new Equity Tracker from Rightmove.
The new product combines Rightmove’s latest instant valuation pricing data, which is powered by millions of listings and data from HM Land Registry & Registers of Scotland, with user-provided mortgage details. The data shows a live snapshot of homeowners’ equity which they can track over time.
As well as providing an equity assessment, the tracker will also keep homeowners up to date on when their current mortgage deal ends and offer remortgage options from both their existing lender and other lenders.
Helping customers understand affordability
Equity Tracker joins Rightmove’s larger suite of mortgage tools and features designed to help people better understand what they can afford and the value of their current home. Its wider suite of mortgage tools includes its mortgage in principle in partnership with NatWest, mortgage payment and stamp duty calculators, valuation tools and renovation insights.
Rightmove’s head of mortgages, Matt Smith, said: “Understanding the equity you’ve built up is a really key part of planning that next move, so we wanted to make this information more easily accessible alongside valuation and remortgage information.”
“We want to help people to be much more aware of what they can afford earlier in their home-moving journey, so that they are more informed about their financial position when contacting agents about listings for sale. It’s all part of our mission to digitise more of the UK property market, using data and innovative technology to make the home-moving process clearer, faster and more accessible.
