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Trussle

What We Stand For

15th April 2019

We’re fighting for fairer mortgages.

Owning your home should mean stability and freedom. But getting a mortgage brings anxiety, stress, and unequal treatment. You deserve better.

We believe mortgages should work for people, not banks.

We stand for the following principles:

You deserve to see the True Cost

No more small print. Bye bye, "additional fees may apply". You deserve to know how much your mortgage deal will truly cost you, including all fees, charges, and sweeteners, before you take any decisions.

We call this True Cost and we’ll show you the True Cost of your mortgage options at every stage of your application. We're lobbying for the adoption of this methodology throughout the industry, so everyone can make an informed decision about which deal is right for them.

You deserve the best deal on offer

With thousands of mortgage deals on the market, don’t you want to see the option that’s best for you? After all, it’s probably the largest financial commitment of your life. But banks will only offer you their own deals, and it's not unheard of for brokers to show bias towards their favourites.

Our technology scans 12,000 deals from 90 lenders every day using unbiased algorithms. Our impartial mortgage experts bring this knowledge together with a detailed understanding of your own needs and preferences. Only then can they present the best possible deal for you.

You deserve to avoid whopping rate hikes when your deal expires

Our research shows that two million people are overpaying on their mortgage by almost £10 billion every year, because costly Standard Variable Rates kicked in after their fixed term deal expired. This is a scandal. And it is entirely avoidable.

Trussle’s Mortgage Monitoring Service scans the market every day and notifies you when you could switch to a more suitable deal, long before that fixed term expires. And we’re developing technology that will make that switch so seamless, you’ll be able to do it with a single click.

Everyone deserves to avoid whopping rate hikes when their deal expires

No one - whether they use Trussle or not - should be locked in to excessive mortgage payments. We’re working to eliminate the threat of the Standard Variable Rate entirely, by lobbying Government, regulator, and industry to adopt the Mortgage Switch Guarantee.

If adopted, this will force lenders to:

  • display the True Cost of a mortgage

  • give online access to key information

  • tell the borrower that their initial rate is about to expire, three months before fixed term ends

You deserve fair treatment

The mortgage industry is built around borrowers proving their salaries with three payslips. Because lenders make plenty of easy profits this way, they don’t bother themselves with those in different situations.

But millions of us are self-employed or retired. We don't have payslips. Try applying for a mortgage in such circumstances, and most lenders will shut the door in your face; many will demand at least two years’ tax records. This pushes people out of the market. Those whose income is reduced by, for example, taking parental leave, find themselves punished through the rates and amounts they can borrow.

We’re working on new mortgage products specifically to help people in these circumstances. Lenders who share our values: we’re calling on you to partner with us, and make mortgages fairer for everyone.

We’ve got your back

You deserve fairer mortgage advice. You deserve a fairer mortgage industry. You deserve fairer mortgage products.

We’re building Trussle to make this happen.

As we grow, we’ll continue to fight for your interests. And we’ll continue to work hard to expand our service to all areas of homeownership.

We’ve got your back.

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