The Finance Planning Group is a mortgage and protection network that uses technology to find leads and process mortgage applications.
Proportunity works in a similar way to the government’s Help to Buy scheme by lending to borrowers with a five per cent deposit up to £150,000 or up to 25 per cent of the property value.
According to Proportunity, this allows borrowers to secure a mainstream mortgage at a lower rate as it will put them on a lower loan to value, increasing their affordability.
Paul Lewis (pictured), Proportunity’s head of intermediary partnerships who joined the firm earlier this month, 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 five per cent deposit.”
Mark Ninnim, Finance Planning Group’s marketing director, said: “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.”
