You are here: Home - News -

Finova adds StrideUp to lender panel

  • 13/12/2022
  • 0
Finova adds StrideUp to lender panel
Finova has partnered with home finance provider StrideUp, so its directly authorised (DA) broker club members can access StrideUp's loan products.

Finova’s members can access the lender’s own shared ownership model. The lender targets first-time buyers and offers up to 20 per cent equity.

Customers can then increase their ownership stake by buying equity while living in the property.

The proposition is different to traditional shared ownership as StrideUp doesn’t build the home, so brokers can help their customers pick a home from properties on the open market.

The minimum deposit is 10 per cent of the total value.

StrideUp recently opened its proposition to brokers, with two, five and 10-year fixed rates available.

The firm launched earlier this year and secured a £280m funding deal and partnership with real estate debt investment manager ARA Venn.

Melanie Spencer, head of Finova Payment and Mortgage Services, said: “We are delighted to be partnering with StrideUp to give first-time buyers an alternative way to finance their home purchase.

“With Help to Buy recently ending, providing our club members with exclusive access to StrideUp’s exciting products presents an exciting way to increase the options available to their customers, and will further help brokers to foster meaningful client relationships for the future.”

Jon Sturgess, head of intermediary sales at StrideUp, added: “Helping people get on the property ladder earlier is at the heart of what we do, and we’re delighted to join Finova Payment and Mortgage Services’ lender panel to help even more borrowers buy a home that fits both their needs and budget.

“As a digital home finance provider, it’s a pleasure to partner with a tech-first firm like Finova, who is equally committed to embracing technology for the benefit of homebuyers across the UK.”

There are 0 Comment(s)

You may also be interested in