Former Unmortgage Founder Launches Disruptive Proptech Venture
Rayhan Rafiq-Omar, the founder of Unmortgage, has launched his latest real estate technology startup, Free.co.uk, following his departure from his previous company. The new platform aims to revolutionize the home-selling process by eliminating listing fees and simplifying transactions.
How Free.co.uk Works
- Zero-Cost Listings: Sellers can list properties on major portals like Rightmove without paying traditional fees
- Revenue Model: The company earns commissions by connecting sellers with mortgage products
- Mortgage Brokerage: Buyers can also use the platform as a mortgage broker, creating a seamless end-to-end service
“I’ve been developing this concept for three years,” Rafiq-Omar told TechCrunch. “The current home-selling process is fraught with friction and excessive costs that deter many potential sellers.”
Key Features and Market Strategy
Streamlined Selling Process
The platform promises to enable homeowners to:
- List properties in just 5 minutes
- Manage the entire process via mobile
- Avoid all upfront listing fees
Targeted Competition
Free.co.uk specifically targets:
- DIY home sellers who prefer self-service options
- Customers of online agencies like Purplebricks
- Tech-savvy sellers familiar with the property market
“We’re not competing with traditional high-street agents,” explained Rafiq-Omar. “Our focus is empowering sellers who understand their property’s value and local market dynamics.”
Timely Market Entry
The startup accelerated its launch by one month to capitalize on:
- Recent UK stamp duty tax cuts (saving buyers up to £15,000)
- Increased demand for digital solutions during the pandemic
- Growing consumer preference for cost-effective alternatives
“We’ve created simple technology that puts the entire home-selling process in your palm,” Rafiq-Omar added. “From listing to viewings to mortgage services, we’re eliminating unnecessary complexity and expense.”
Industry Implications
This innovative approach could disrupt the UK property market by:
- Challenging the fee structures of online estate agents
- Attracting price-conscious sellers with its commission-only model
- Potentially forcing compe*****s to reevaluate their pricing strategies
As the proptech sector continues to evolve, Free.co.uk represents another attempt to democratize and digitize the traditionally cumbersome home-selling process.
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The Heartbeat Mousepad keeps your workflow steady and efficient—just like Free.co.uk aims to streamline the home-selling process. With a smooth, responsive surface and ergonomic design, this mousepad ensures every click counts, whether you’re browsing listings or finalizing mortgage details.
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