Mortgage and protection network The Finance Planning Group has entered into a partnership with Proportunity.
The Finance Planning Group will offer its clients Proportunity’s shared equity loan.
Proportunity loans work in a similar way to the government’s Help to Buy scheme, but are also available on existing properties and to those who are already on the housing ladder, as well as to first-time buyers.
Proportunity launches pilot to explore loan options after Help to Buy
Paul Lewis, head of intermediary partnerships at Proportunity, said: “This deal is a testament to how visionary and forward looking The Finance Planning Group is.
“It means that brokers in The Finance Planning Group will now be able to provide their mortgage clients with innovative new options to help them either to get on the housing ladder or to take that next step up into a bigger property.
“Proportunity offers a truly unique opportunity for borrowers to either buy a larger property, or get on the housing ladder at an affordable rate with just a 5% deposit.”
Mark Ninnim, marketing director at the Finance Planning Group, added: “The Proportunity solution is truly innovative, enabling borrowers to purchase existing properties as well as new build ones.
“It will also fill a much-needed gap as the Help to Buy scheme tails away. With escalating house prices, the Proportunity shared equity loan will help our clients right now, to scale up and buy that next property that they would otherwise struggle to afford.
“For some people this really will be a lifeline, so for us it was a no-brainer to launch with Proportunity to make this option available to our brokers and their clients.”