Finance management app Track launches

Track announces full app launch to help young homeowners drastically improve the dated experience of managing home finances.

The new generation of homeowners, conditioned by the rise of fintech, expect slick online products. They can now also manage household finances from one simple, beautiful, connected mobile app.

The number of UK first-time buyers – average age of 33 – is at its highest level in over a decade, with first-time buyer mortgages in September increasing by 1.6% year on year and outstripping home movers. However, this group of homeowners has a uniquely challenging set of characteristics. Sky-high house prices have forced many to co-finance the purchase with partners and parents, but while shared finances among younger homeowners is common-place, there’s a growing desire to maintain
financial independence.

Track founders Byron McCaughey & Henry Oakes, who met while studying at Imperial College Business School, set out to build an app that recognises these hallmarks of the young homeowner – from complex ownership and ‘together but separate’ finances, to the expectation shift brought about by the rise of FinTech.

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