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Proportunity joins IMLA

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  • 08/06/2021
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Proportunity joins IMLA
The Intermediary Mortgage Lenders Association (IMLA) has added specialist mortgage lender Proportunity as an associate member, bringing its overall membership to 56.

 

The lender becomes the 12th associate member, with Proportunity’s head of lending Matthew Froggatt acting as the firm’s representative.

IMLA currently has 44 members spanning banks, building societies and specialist lenders, alongside 12 associated mortgage service providers like Twenty7Tech, Mortgage Brain and LSL Property Services.

Founded in 2016, Proportunity provides second charge top-up loans to aspiring homeowners, which can increase a buyer’s budget by up to £90,000 and is similar to the Help to Buy scheme.

The company aims to support one million homeowners by 2030 and has helped finance 41 million property sales, according to its website.

IMLA’s executive director Kate Davies said: “Proportunity offers an innovative solution to aspiring homeowners aimed at helping them to meet affordability requirements, an issue faced by many since the introduction of the Mortgage Market Review in 2014.

“We are delighted to welcome them into membership and look forward to hearing more from the team at IMLA’s upcoming meetings and roundtable sessions.”

Proportunity’s chief executive and co-founder Vadim Toader (pictured) said: “As part of our brand journey, we are excited to have joined Imla’s membership, which will provide significant opportunity to collaborate with the wider market. We look forward to meeting with IMLA’s wider membership over the coming months.”

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