Confused.com owner RVU to squeeze into online mortgage sector

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Habito has today announced that it will launch the nation’s longest-ever fixed rate mortgage, which will come without early repayment charges or exit fees.

Confused.com owner RVU has snapped up online mortgage broker Mojo Mortgages, signalling its move into the home loan sector.

The comparison site giant, which also owns Uswitch and Money.co.uk, declined to put a figure on the deal – however, paid £508m for Confused.com in December.

“I can assure you the price is not nothing,” RVU boss Tariq Syed said.

Syed bagged Mojo for its tech abilities which surpass that of other firms in the oversaturated sector.

“Millions of mortgage seekers are coming to us through trusted sites like Money.co.uk, Uswitch and Confused.com,” Syed added.

“Owning every part of the process means we can improve their experience from start to finish. This is a fusion of capabilities, combining our growing audiences with the most advanced digital broker in the UK.”

The deal will sharpen Manchester-based Mojo’s trajectory, for a company with just 60 workers, providing RVU’s investment gets the green light.

Co-founder and CEO of Mojo Mortgages, Richard Hayes, said: “This significant next step in our journey makes that vision a reality on a scale we could have only dreamt of back then.”