An online mortgage broker is in discussions with online estate agents to establish a faster and fully automated service for home buyers.

Mortgage Gym, due to launch in June, is a solely online regulated mortgage broker known as a robo-adviser.

The whole mortgage application process for an applicant is conducted on the internet.

The broker has partnerships with credit reference agency Experian and commercial agreements providing live digital access to 12 of the top 20 lender scorecards to give mortgage applicants an accurate agreement in principle.

The website conducts identity and anti-money laundering checks and applicants can get a mortgage matched in 60 seconds based on their personal information and income. They then get a more detailed affordability assessment by completing a 15-minute online application.

The applicant then chooses a mortgage broker from Mortgage Gym’s panel to discuss their application and apply to the lender on their behalf.

The idea is that a home buyer would have a more accurate agreement in principle when making an offer on the property.

One of the next stages for the business will be to link with an online estate agent so a home owner looking to move could list their property at the same time.

John Ingram, chief executive and founder of Mortgage Gym, told EYE: “We would like to be able to offer applicants access to agents as referral partners.

“We are looking at working with one of the leading online agents to enable property transactions to proceed more quickly.

“A home mover who hasn’t got their property listed and is in an exploratory stage can use us to identify a lender and also list a property for sale through a partner agent.

“The nature of our platform is to bring digital automation and ease of access to doing a property transaction online, so a hybrid online estate agent is a natural partner for us.”

He declined to name the agents they were in talks with as discussions are ongoing.