Takeover deal for Mojo Mortgages completes

Tariq Syed, CEO of RVU, left, and Richard Hayes, CEO, Mortgages

RVU, owner of Uswitch, Confused.com and Money.co.uk, has completed the previously announced agreement to buy Manchester-based Mojo mortgages for an undisclosed sum.

The deal was originally announced in July this year.

Mojo, is a free online mortgage broker, delivering personalised mortgage recommendations through a hybrid of smart tech and human mortgage experts.

The growing company of more than 60 staff recently reaffirmed its commitment to the North West by relocating from Macclesfield to Manchester city centre, while continuing to hire mortgage advisers on a remote basis across the UK.

RVU operates digital brands that empower people to make confident decisions.

In the UK these include Uswitch, Confused.com and Money.co.uk, all of which offer consumers the ability to compare and switch across a range of utilities and financial services products including mortgages.

Richard Hayes, co-founder and CEO of Mojo Mortgages, said: “In our three years as a start-up, we helped a lot of homebuyers and took many great strides on our mission to bring financial confidence and transparency to everyone in the mortgage market.

“Now, working alongside RVU’s household names, Uswitch, Confused.com and Money.co.uk, which welcome millions of customers looking for mortgage help, we’ll have the scale and support to truly change how people think and feel about mortgages in the future.”

He added: “Manchester has always been our home and we are committed to expanding our operations here as we continue to grow within RVU. It’s exciting times for Mojo, Manchester and mortgages.”

Tariq Syed, CEO of RVU, said: “This is a win for the millions of mortgage seekers who are coming to us for help. Our combined scale alongside the expertise Mojo brings will allow us to have a hugely positive impact on this market, and those dreaming of owning their own home.

“To date, RVU has been instrumental in revolutionising the process of buying car insurance and switching energy. Now, moving our attention to mortgages – a market left largely undisrupted – we will get to work on improving their mortgage experience from start to finish.”