Moneysupermarket set to launch new mortgage business

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Moneysupermarket set to launch new mortgage business
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Shares in price comparison website (LON:MONY) jumped 24.4p to 333.7p (as at 10:14 BST) as it said first-half profit after tax rose 5% to £42.5 million, driven by increased energy switching in the period and a solid performance in the insurance business.

The group also said it has joined forces with the founders of HD Decisions to launch a new mortgage business, a market which the company argues is “ripe for disruption”.

“We all know finding a better mortgage is complicated,” said CEO Mark Lewis. “We said we would do something about this and today we announce Podium, a new mortgage fintech, to build a comparison tool to bring customers the digitisation of mortgages – an easier and better way to arrange the mortgage that suits them.”

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