The firm, which is part of Leeds-based Tenet Group, said Mortgage Monitor is an innovative, digital mortgage switching service which has been developed with Personal Group, a provider of employee benefits, well-being and engagement products, and Dashly, a mortgage comparison platform.
Tenet&You said the service will save employees hundreds of pounds per month. Personal Group’s employee benefits platform, Hapi, will host Dashly to develop the software.
Once an opportunity has been identified, Tenet&You said it will provide expert mortgage advice from its team of in-house advisers. The customer can continue to use Mortgage Monitor to track rate changes.
The firm said that UK homeowners can save an average of £2,620 a year by switching mortgages. Mortgage Monitor employees will be regularly alerted about better deals and the service is now available to 50,000 employees.
Mark Scanlon, CEO of Tenet Group, said: “We are excited to have launched our first digital product, Mortgage Monitor with Personal Group and Dashly.
"Our objective is to provide financial peace of mind. We believe combining cutting edge technology like Dashly with Personal Group, the pre-eminent employees benefits provider in the UK, is an excellent combination with our in-house mortgage brokerage business.
"Looking after your finances, particularly in this challenging environment is paramount and we think this is a clever way of doing just that. As a business, we are continuously looking at ways to innovate and deliver digital products and services to add value to our members.”
Ashley Doody, CIO of Personal Group, said: “Helping employees manage their money should form part of a suite of well-being services.
"A mortgage is one of the biggest purchases an individual will make. Being able to help employees save money on this is critical to employees feeling happy and in control.
"This innovative service will help more people make good financial decisions, supporting overall employee well-being.”
Ross Boyd, CEO of Dashly, added: “After a tough year, staff well-being should be paramount for bosses - that’s why we’re proud to harness our expertise in fintech to create and deliver Mortgage Monitor, to give more people a better deal on their mortgage, and greater peace of mind.
“Tenet and Personal Group were natural partners for this venture and we’re hugely excited to work with such industry heavyweights.”