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Bristol proptech Propflo opens for pre-registration

Jack Wride
Authored by Jack Wride
Posted: Wednesday, November 3, 2021 - 09:38

Propflo is open for pre-registrations for their property transparency platform, the Bristol-based company has announced.

Founded in August of this year by Luke Loveridge and Dr. Daniel Moyo, Propflo is a property transaction, transparency, and decision support platform that uses artificial intelligence to help consumers and property professionals who are looking to buy or sell residential properties.

Luke Loveridge, founder and former CEO of HomeLINK, presented some of the problems present in the UK’s current property market: “There are over 225,000 property fall-throughs per year in the UK costing over £600m; and I’ve been one of those! Our research shows that some of the main reasons for these failures is people not having key information earlier on in the process and both buyers and sellers not being prepared enough.”

Loveridge continued: “I’m also shocked by our research showing that most people rank sustainability, including energy efficiency, last when searching for a new home. There are transparency and sustainability awareness issues we need to address. Our mission at Propflo is to empower people to make the best and most sustainable decisions when buying or selling their home.”

Propflo’s support platform has 4 primary features:

  • Property scoring and reports showing strengths and risks associated with the property such as flooding, radon, and restrictive covenants. Sellers will be able to provide information earlier in the process to give context and reassurance.

  • Buyer and seller readiness features to get people more prepared; from evidencing a deposit and mortgage in principle, to supplying legal documents and other property documentation earlier. 

  • A sustainability investment checker to show how much work is needed to improve energy efficiency, what the financial return is, and what other benefits you could get.

  • An Improve my score’ system where strengths and weaknesses on the property and client’s readiness are highlighted and recommendations given on how to improve these.

Loveridge emphasised Propflo’s commitment to changing how properties in the UK are bought and sold: “I’m passionate about applying the latest technology to solve real issues for people. We want our work to have a positive impact on society and the environment. ‘The start-up’ is one of the best vehicles to achieve significant and sustainable change and the South West has such a supportive and innovative start-up community, one that can nurture that. I’m thoroughly enjoying my new adventure with Propflo and we’re heading in the right direction to make a significant impact on people’s lives.”

The platform itself will be available to consumers and property professionals in 2022.

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