Zoopla Property Group has thrown itself behind a new proptech/fintech venture, investing in “the UK’s first property ISA” and agreeing an exclusive long-term strategic partnership with the fledgling company behind it, Bricklane.com.
ZPG already has strong form in the proptech sphere, owning the likes of Zoopla, uSwitch, PrimeLocation and Property Software Group.
Bricklane.com’s property ISA – which aims to “help ‘Generation Rent’ get a toehold in the property market whilst saving up for a deposit on a new home” – will be part of Zoopla’s new “Invest” channel, which its due to launch later this month.
Savings invested with Bricklane.com will track UK house prices and generate rental income on top, “meaning savers can finally keep pace with the property market rather than seeing house growth continuously outpace their savings”.
Paul Whitehead, Group Strategy Director of ZPG: “Bricklane.com have come up with a great, painless way for savers to get exposure to the housing market. This product is especially useful for first-time buyers saving towards a deposit or homeowners looking to move up the ladder who too often have seen house prices grow at a much faster rate than their savings. The innovative online Property ISA will allow those saving for a property to keep pace with the market. This product is perfect for our investment strategy at ZPG and our soon-to-be-launched Invest channel on Zoopla.”
Simon Heawood, CEO of Bricklane.com: “We are delighted to be partnering with and have the support of the ZPG team. We are looking forward to launching our product through the new Zoopla Invest channel with access to their huge audience of property-interested consumers. Our innovative Property ISA offers a uniquely simple investment for those seeking to participate in the property market, from £100.”