Rightmove has entered into an arrangement with NatWest to become the property portal’s sole mortgage partner, the company announced this week.
The partnership, which commences in April, will enable users searching for properties on Rightmove to apply for mortgages directly through the platform and receive a decision in principle. Full mortgage applications will be processed online with offers issued within 24 hours, according to the companies.
Digital mortgage process
Customers requiring additional assistance will be connected with NatWest advisers to support their applications. The mortgage in principle service from NatWest, the UK’s third-largest mortgage lender, will be integrated alongside existing tools on the portal including stamp duty calculators, mortgage calculators, renovation calculators and property valuation services.
Johan Svanstrom, CEO at Rightmove, stated: “We help consumers to better understand what they can afford earlier in their home-moving journey, which in turn also helps estate agents or home developers have more qualified discussions with them.”
Solange Chamberlain, CEO of Retail Banking at NatWest, said the partnership would allow the bank to reach customers “at the exact moment they’re thinking about buying a home”.
Industry context
The announcement follows a difficult period for Rightmove, with the company’s share price declining last week amid criticism from independent estate agents over proposed fee increases of up to 18% for 2025. Some agents have warned the increases could force smaller firms out of business.
Rightmove has stated its objective is to digitise more aspects of the UK property market to accelerate the home-moving process. The company says the partnership aims to send estate agents more qualified enquiries by helping potential buyers understand their affordability earlier in the property search process.
