|Description||Online mortgage seach & comparison tool|
|Series A, 3/10 |
Octopus Ventures Inc
Money Workout is a web enabled service provider working with the mortgage market to improve productivity and the quality of mortgage business generated. Money Workout purchases and generates mortgage enquiries that it matches with the best available mortgage product in the market. Money Workout has exclusive access to the whole of market mortgage products, and with its ability to process leads cost-effectively, it ensures its service benefits consumers, lead generators and lenders.
Through effective lead generation, qualification and execution, Money Workout aims to remove 50% of the origination costs for mortgage companies. Having initially acquired a lead through either a lender’s own, or a comparator website, the Company’s online tool properly qualifies the enquiry. The resulting mortgage applications are then completed and submitted to the lender, delivering fully qualified leads to lenders at a substantially lower cost than that incurred when generating leads itself or via a broker.
Money Workout operates in the new home mortgage market, which is estimated to be worth approximately Â£80 billion in lending in 2010, equivalent to around 500,000 mortgages (a substantially lower figure than recent years as a result of the economic climate). The Company’s value proposition is based upon providing lenders with a significantly lower cost alternative to their own direct marketing channels. Money Workout’s efficiency is underpinned by true whole of market mortgage lender coverage; the quality of its leads; proprietary online systems; and an FSA regulated and professional call centre.