Moneybox Mortgage Advice has been beta launched by saving and investing app Moneybox.

Moneybox Mortgage Advice, offered by Moneybox Mortgages, is integrated into the Moneybox app and helps customers generate a ‘Mortgage In Principle’ through their mobile phone.

A team of mortgage advisers offer free, impartial and unobligated advice over the phone or via in-app chat to help customers find the most suitable mortgage.

Moneybox says it is paying advisers a “competitive”, set salary, rather than incentivising them through commission for selling products. The business is working with Mortgage Advice Bureau to offer a range of suitable mortgage options for customers.

The service will be available to first time buyers, next time buyers and those looking to remortgage, and customers can track their progress in the app throughout the process.

The service will initially be available to a small pool of existing customers in beta, where Moneybox will work closely with its community to develop the before rolling it out to the wider community over the next few months.

Ben Stanway, co-founder of Moneybox said: “We are on a mission to help everyone save and invest for their future, and for many, that future includes home ownership.

“We are already helping hundreds of thousands of people save for their first homes, but we’re aware that the home-buying journey goes far beyond saving up for a deposit. Finding the right mortgage can be a  stressful, time-consuming and expensive process, and we want to change that.

“We want to give people the tools and information they need to save for a deposit, and then the qualified advice to help them make an informed decision on what the right mortgage is for them. By offering customers everything they need  in one user-friendly service, we want to bring the joy back to home-buying.”

Peter Brodnicki, CEO of Mortgage Advice Bureau, added: “We’re delighted to be working with Moneybox, which is a very well-respected customer first brand in the personal finance space. Whilst helping prospective first time buyers save for their deposit, their app and digital tools support savers to become mortgage and purchase ready.

“Moneybox customers will now gain access to experienced advisers who will help them secure a mortgage which best meets their needs from the many 1,000’s of options available. Investing in future first time buyers in this way is hugely important, as saving for the deposit is only one of many considerations when planning your first purchase.”