Rightmove has launched a new equity tracker tool as part of its push to digitise more of the UK property market.
The feature is designed to give homeowners a clearer, real-time view of the equity in their property by combining valuation data with mortgage information and market trends. By bringing this information into one place, Rightmove aims to help users better understand their financial position and make more informed decisions about moving.
The launch reflects a wider effort by the portal to streamline the home-moving process through greater use of data and digital tools, with a focus on improving transparency and reducing uncertainty for buyers and sellers.
“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,” said Rightmove’s head of mortgages, Matt Smith.
“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,” he explained.
The equity tracker, available within Rightmove’s Instant Online Valuation tool, provides updates on when a homeowner’s current mortgage deal is due to end and shows remortgage options from their existing lender and others.
By combining mortgage data with changes in property value over time, the tool gives an indication of available equity and borrowing capacity for a future purchase.
It forms part of Rightmove’s wider set of mortgage-related tools, which includes a mortgage in principle service in partnership with NatWest, as well as payment and stamp duty calculators, valuation tools and renovation cost estimates.
Smith commented: “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.”
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