Nume partners with OneDome to pilot mortgage-tracked investment pot

The product is being piloted with OneDome advisers, with Nume saying this could improve client retention.

The ISA sits in an invested pot that the Nume app tracks against a borrower’s mortgage balance. 

Nume is the trading name of Sprout Financial and is an appointed representative (AR) of RiskSave Technologies, which is authorised and regulated by the Financial Conduct Authority (FCA). 

It will pilot its product with OneDome advisers this month, before extending the proposition to lenders, estate agents and other brokers. 

The Mortgage Freedom Pot is aimed at borrowers who want to put money aside for their mortgage but may not have enough to make paid financial advice worthwhile. 

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Each monthly contribution is tracked in the app against a customer’s mortgage balance, and customers receive a quarterly statement showing their mortgage and ISA balance. This can be shared with their mortgage adviser with their consent 

Nume said this could help brokers with client retention. 

Asis Tewari (pictured), co-founder of Nume, said: “Retention is a huge problem for brokers. We give them a reason to stay in touch after the deal is done, so at remortgage, the broker is the client’s first call, not the lender. We don’t give advice, so the decisions stay with the customer.” 

The company already runs a D2C version of the product and will run seminars with Coreco, part of the OneDome group, at the London Business School on whether to overpay a mortgage or invest. 

Pots are held with Interactive Brokers as custodian and invested in index funds from providers including Dimensional, BlackRock and Vanguard. 

Tewari said: “As with any investment, capital is at risk and the value of the pot can fall as well as rise. That’s why we only offer diversified index funds from institutional-grade providers, not single stocks. It spreads the risk, but it doesn’t remove it.” 

The pot does not reduce a borrower’s mortgage balance or interest on its own, but provides insight into how far the money in the pot can go towards their loan. The money in the pot can be withdrawn at any time. 

For interest-only borrowers, the app shows the pot against the capital due at the end of the term. Any repayment strategy must be acceptable to their lender, and there is no guarantee the pot will cover the full balance. 

Tewari added: “More borrowers are asking whether to overpay their mortgage or invest. We help them see both options side by side.” 

Mobeen Akram, head of new homes and partnerships at OneDome, said: “Brokers today want lasting relationships with their clients, but the market has become so competitive that most interactions are purely transactional. Building genuine, long-term engagement is how we intend to set ourselves apart.” 

OneDome said it was seeing growing demand from borrowers to reduce their mortgage balance as interest rates remained high. 

Akram added: “When clients ask about ways to pay down their mortgage, Nume gives us a practical solution to offer them, and a reason to stay in touch beyond the transaction.”