In an exclusive interview with Specialist Banking, Ricky Knox, co-founder and CEO at Tandem, stated that this was currently being tested by staff.

“Generally, it’s difficult to get a house and we’d love to make it easier for people to get a house without the traditional [system].

“But what we’re looking at is using exactly the same intelligence that we use to analyse your aggregated spend. 

“…And while the banks go: ‘Oh he’s a bad bet because he doesn’t have a credit record, doesn’t have this, doesn’t have a big enough deposit’ or whatever it is, we’ll look at you and go: ‘Actually, we’re willing to underwrite this guy or girl because they’ve got [a] really healthy [financial fitness score] … they’re putting money aside every month.’

"So, for example, with autosavings, one of the rewards that we are looking to launch in the future will be if you consistently saved more than X for X months, we’ll actually offer you a mortgage just off the back of that, forget your credit rating and everything else."

Ricky also added that Tandem was looking to expand into western Europe as well as multiple Asian countries.

“We’re definitely going to be expanding into western Europe next year … we’ll [probably] do one country first and then we’ll do the whole of the EU, but we obviously need to get the right licensing basis first.

“Depending on how the Hong Kong piece goes, within six months, probably, we’ll be looking at other Asian markets.

“…We think Asia is where the growth is at, and so we’re really excited about expanding into some of these developing Asian markets.

“Not just Hong Kong, but Indonesia, China, Malaysia and Taiwan.”

Amendment: 28th November 2018
An earlier version of this article was headlined: Tandem testing mortgages as an autosavings reward. We have since added that this is for trusted customers.
An earlier version of this article also noted that Tandem hadn’t launched the mortgage offer as an autosavings reward yet. This has been changed to clarify it is looking to launch this reward in the future.