Trussle helps first-time buyers and existing homeowners to save time and money securing a great-value mortgage online. It’s been estimated that one in two mortgage holders in the UK are losing £4,000 each year by not switching to better deals; representing a £29bn headache for the country’s homeowners. The Trussle service doesn’t end once a new mortgage deal is secure. The start-up continue to monitor the market for the lifetime of a customer's mortgage, helping people to switch to a better deal later on. Trussle launched in December 2015 as the UK’s first online mortgage adviser, after months of customer development, user testing, and cutting through red tape. It is backed by some of Europe's leading technology investors including LocalGlobe, Ed Wray (founder of Betfair), Ian Hogarth (founder of Songkick), Seedcamp, and Zoopla Property Group. In May 2018, it raised $13.6M Series B from 4 investors, including Goldman Sachs and Propel Ventures.
The FCA estimates that approximately 120,000 British mortgage customers would benefit from switching provider. Trussle has proposed a mortgage-switching guarantee similar to that which now operates in the current accounts and energy markets. The business says that this would help homeowners save some of the £10bn that Trussle believes is wasted each year by being on the wrong mortgage deal.