Rightmove has launched a new equity tracking tool designed to help homeowners better understand their financial position ahead of a move.
The tool, called Equity Tracker, allows users to monitor how much equity they have built up in their property over time by combining valuation data with mortgage information.
It forms part of Rightmove’s wider push to improve transparency and support earlier decision-making in the home-moving process.
Equity Tracker sits within the platform’s Instant Online Valuation tool and uses pricing data drawn from listings alongside information from HM Land Registry and Registers of Scotland.
LIVE SNAPSHOT
By layering this data with user-provided mortgage details, the tool provides a live snapshot of a homeowner’s equity position and how it evolves.
It also alerts users to when their current mortgage deal is due to end and offers potential remortgage options from both existing and alternative lenders.
Rightmove said the aim is to reduce uncertainty by giving homeowners a clearer view of what they could afford when they come to buy their next property.
The tool expands Rightmove’s existing suite of mortgage features, which includes a mortgage in principle offering with NatWest, as well as payment and stamp duty calculators.
MORE INFORMED
Matt Smith, Head of Mortgages at Rightmove, says: “Understanding the equity you’ve built up is a really key part of planning that next move, so we wanted to make this information more easily accessible alongside valuation and remortgage information.
“We want to help people to be much more aware of what they can afford earlier in their home-moving journey, so that they are more informed about their financial position when contacting agents about listings for sale.
“It’s all part of our mission to digitise more of the UK property market, using data and innovative technology to make the home-moving process clearer, faster and more accessible.”
Rightmove says that the latest launch reflects its strategy to bring property search, valuation, mortgage tools and market insight together in one place to support users through the buying journey.
