Listed PropTech OnTheMarket has launched a new division called OnTheMarket Money to provide consumers with help on their home moving journey.

The majority agent-owned company, which operates the property portal, want to provide access to financial services and other essential products.

OnTheMarket’s first partnership under this new brand is with London & Country Mortgages (L&C), one of the largest whole-of-market mortgage brokers in the UK, will provide consumers with access to mortgage products and support via the portal.

Jason Tebb, chief executive officer of OnTheMarket, said: “The launch of OnTheMarket Money is another key step in our evolution towards becoming a ‘one stop shop’ technology company that provides services for agents and consumers, across the entire property ecosystem.

“We’re delighted to be working with L&C to make their services available to the millions of serious property seekers who visit our site each month.

“This partnership will help add even more value to consumers, combined with our ‘buyer ready’ proposition to ensure that our agent and housebuilder customers receive qualified leads from serious property seekers.”

OnTheMarket welcomes CFO as turnover grows

The developments to the portal will support consumers seeking a mortgage in principle and provide them with a guidance of how much they might be able to borrow, helping make their process more efficient.

The consumer referral partnership with L&C is just one of a number of integrations that will be launched, with the roll out of a fee sharing mortgage referral solution – to provide agents the opportunity to earn referral fees – expected later this year.

The launch of OnTheMarket Money follows the successful launch of OnTheMarket Software in September last year.

OnTheMarket provides a unique opportunity for agents to participate in the equity value of their own portal.

Agent backing and support enable OnTheMarket to display ‘Only With Us’ properties which are either exclusive properties advertised at by customers who do not list their properties with either Rightmove or Zoopla, or properties listed 24 hours or more before agents release these properties to Rightmove or Zoopla.

Revenues and profits up at OnTheMarket plc

The firm, listed on the London Stock Exchange, saw turnover for the year ended January 31, 2022 reach £30.8m, up from £23m in FY2021.

Profits hit £2.6m, up from £2.4m in the previous 12 months.