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Zoopla claims it can secure you a mortgage in 24 hours thanks to new PropTech partnership

Property search engine Zoopla has launched a new partnership with mortgage broker startup Trussle that it claims will radically simplify the process of buying a new house.

The partnership, which is borne out of Zoopla’s £1m investment in Trussle earlier in the year, provides users with a ‘digital end-to-end’ service where they can search for a property, find out within 60 seconds whether they qualify for a mortgage on the property, receive a mortgage in principle within 5 minutes and secure it within 24 hours.

The property firm claims that the new service, which relies heavily on the startup’s proprietary algorithm which compares quotes from 90 lenders, has the potential to rapidly accelerate what can be an onerous and drawn out process.

Alex Chesterman, Founder and Chief Executive Officer of Zoopla commented: “We’re pleased to have invested in and agreed a long term strategic partnership that we are now launching.

“Trussle are one of the most exciting new prop tech businesses and through this partnership we hope to bring efficiencies to the property market for the benefit of buyers, sellers and agents.”

In February Zoopla invested £1m in Trussle, along with PropTech compatriots PropertyDetective, FixFlo and Landbay, in exchange for exclusivity arrangements on the tech firm’s new innovations and products.

Trussle’s founder Ishaan Malhi, said that innovation in the sector was rapidly accelerating, and that the new partnership would ‘transform’ the way people buy a home.

He added: “Trussle’s partnership with Zoopla enables us to leverage our joint technological expertise to finally solve the frustrations of homebuyers across the UK; to make the process of buying a home quick, clear and straightforward.”

Founded in December 2015, London-based Trussle has attracted backing from big technology investors including LocalGlobe and the founders of Betfair and Songkick.