You are here: Home - News -

TMA Club partners with Generation Home

  • 26/04/2022
  • 0
TMA Club partners with Generation Home
Mortgage club TMA Club has partnered with Generation Home, allowing its brokers to access its innovative first-time buyer products.

The lender was launched in 2019, and its product, which is an update of the joint borrower sole proprietor product, allows up to six people on a mortgage.

This includes family, which it describes as income boosters, or family and friends, which it terms deposit boosters.

Generation Home says that this can significantly increase the mortgage term available and can provide long-term financial protection for all the borrowers’ investment. It said that its average income booster can add up to £100,000 to the value of a mortgage loan.

The lender offers 95 per cent loan to value (LTV) products on standard properties and 90 per cent LTV on new builds.

It also has flexible criteria, with no age limit for parents, one year of accounts for self-employed applicants, permitting remortgage and transfer of equity to 90 per cent with family and transforming a family gift into an interest-free loan for friends and family.

Lisa Martin (pictured), development director at TMA, commented: “We are proud to be offering Generation Home’s products to our DA intermediaries in a move which further strengthens TMA’s offering for first-time buyers.

“First-time buyers are finding it increasingly difficult to get onto the housing ladder with rising living costs and house prices rising disproportionately to wages, so Generation Home is providing much-needed support for these homebuyers. This latest partnership will allow us to continue providing our members with a wide range of products to suit each client’s needs.”

Will Rice, chief executive of Generation Home, said: “Affordability remains the biggest barrier to entry for people trying to get onto the property ladder. We have created unique solutions to enhance a client’s affordability and tackle this very issue, unlocking the ability to own a home for many more people.

“We believe that the mortgage advice community will play a critical role in educating their clients about the benefits of the Generation Home proposition. We look forward to working with TMA’s extensive network of engaged brokers.”

There are 0 Comment(s)

You may also be interested in