The Money Group Mortgage Club has added Proportunity to its lender panel.
The lender offers a private “Help-to-Buy” style equity loan that increases aspiring homeowners’ budget by up to £150,000 and works on both new and old build properties across England and Wales.
It works alongside a main bank mortgage product both taken at point of purchase by owner-residents (non-BTL).
IMLA adds Proportunity as associate member
Members of the Money Group Mortgage Club will now be able to unlock 6x LTI for aspiring homeowners with only a 5% deposit.
Stefan Rusu, head of business development at Proportunity, said: “We are delighted to onboard TMG’s rapidly growing membership. It’s with the help of forward-looking, customer-centric brokerage firms and mortgages clubs, such as TMG, we’re solving the key pain point of buyers today: affordability — a pain point that is and will become increasingly acute as incomes stagnate, house prices grow and Help to Buy is going away.”
Paul Lewis, managing director of TMG Mortgage Club, added: “We are delighted to launch with Proportunity, we have already seen strong activity in this space across the group and have received outstanding feedback about the product solutions at Proportunity and the service standards across their brand.
“As we have already witnessed during the global pandemic, the economy has been heavily reliant on housing market, meaning that pricing has steadily increased and made it harder for customers to get on the property ladder without the assistance of BOMAD”.
