Rightmove has launched an ‘equity tracker’ tool to provide a ‘live value snapshot’ for property owners.
The new function combines the portal’s instant valuation pricing data, which is powered by listings and data from Land Registry & Registers of Scotland, with user-provided mortgage details.
And it will keep homeowners up-to-date with when their current mortgage deal ends, as well as provide remortgage options from both existing lenders and others.
Confident decisions
By factoring in both their mortgage and how their home’s value may have changed over time, this new tool helps people understand what they could potentially afford when they come to buy again, Rightmove says.
Rightmove says this launch is part of its ongoing investment into tools that improve market transparency and help people to make more confident decisions.
Its mortgage tools help people to be more aware about what they can afford earlier in their journey, to support more informed conversations with agents, the portal says.
Understanding the equity you’ve built up is a really key part of planning that next move.”
Matt Smith, Head of Mortgages at Rightmove, adds: “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,” he says.
“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.”