Generation Home was launched by husband and wife, Will Rice and Sophia Guy-White, in 2019 and was given regulatory approval to provide mortgages in September last year.
The offering is similar to a joint borrower sole proprietor (JBSP) mortgage in that it allows multiple parties to be named on a mortgage.
Where it differs is each party can choose to make payments or stop making payments when they choose. People can also be removed from the mortgage before the end of the term.
People on the mortgage can also earn equity in the property being lent on depending on any mortgage repayments they make.
Rice said: “Independent advice is incredibly important to first-time buyers. As Generation Home takes its first steps towards opening up fully to intermediaries, working with Twenty7Tec will mean that more intermediaries can find, access and obtain a Generation Home mortgage for their customers.
“We know from working with intermediaries that Twenty7Tec is an invaluable tool for them to source products and therefore serve their customers better.”
Nathan Reilly, director of lender relationships at Twenty7Tec, added: “Based on data available through our Insight module, joint borrower sole proprietor was the most searched piece of criteria during September.
“This clearly underlines the challenge affordability still presents for many first-time buyers and the market as a whole, so it’s encouraging to see Generation Home tackling this issue head on and working with intermediaries to help more customers take their first step onto the property ladder.”