move right has launched a new equity tracker tool as part of its effort to make the UK property market more digital.
The feature is designed to give homeowners a clear, real-time view of the equity in their property by combining appraisal data with mortgage information and market trends. By bringing this information into one place, Rightmove aims to help users better understand their financial situation and make more informed decisions about moving forward.
The launch reflects a broader effort by the portal to streamline the door-to-door process through greater use of data and digital tools with a focus on improving transparency and reducing uncertainty for buyers and sellers.
Matt Smith, head of mortgages at Rightmove, said: “We want to help people be more aware of what they can afford earlier in the journey to a home, so they have a more informed understanding of their financial position when approaching agents about listings for sale.
“This is part of our mission to make the UK property market more digital, using data and innovative technology to make the door-to-door process clearer, faster and more accessible,” he said.
Equity Tracker, available within move right’s instant online valuation tool provides updates on when a homeowner’s current mortgage deal is due to expire and shows re-mortgage options from their existing lender and others.
By combining mortgage data with changes in property value over time, the tool provides an indication of the equity and borrowing capacity available for future purchases.
It is part of Rightmove’s wider set of mortgage-related tools, which includes mortgages in principle service in partnership with natwestAs well as payment and stamp duty calculators, valuation tools and renovation cost estimates.
Smith commented: “Understanding the equity you have built is an important part of planning the next step, so we wanted to make this information more easily accessible, along with appraisal and refinancing information.”
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