The insurance price comparison company GoCompare has now taken a stake in the digital mortgage firm Mortage Gym. Shares rose 5 percent to 109P after the company announced to would side with credit checker Experian in this new venture.
UK homeowners now have the opportunity to use the robo-advise site to complete a mortgage application in 15 minutes, which saves consumers time and money.
Debt has also fallen to 1.5 times earnings today compared to 2.8 times earnings at the time of the de merger. This is credited to better advertising and marketing strategies implemented to help the company grow operating profits by 22% over the last year.

Key Takeaways:

• GoCompare will be able to allow people in the UK to fill out a mortgage application in 15 minutes because it acquired Mortgage Gym.
• The merging of the two businesses helps people find houses in a fast and efficient way.
• By merging with this company, GoCompare has increased its profit.

“Price comparison site GoCompare, known for its opera-singing mascot, moved away from its bread-and-butter insurance offering today by taking a stake in digital mortgage firm Mortgage Gym.”

Read more: https://www.standard.co.uk/business/gocompare-moves-into-mortgage-market-a3585296.html