The New Build Boost was launched in March this year and aims to serve as an alternative to Help to Buy. It offers borrowers a mortgage at 80% loan to value (LTV) if they have a minimum deposit of 5%, with the remainder supplied by a 15% interest-free equity loan.
It is intended to open up homeownership to more people, with the equity loan being interest-free for the entirety of the term.
The partnership between Gen H and the specialist new-build division of the national brokerage means the New Build Boost offering is available via Just Mortgages’ specialist team of 34 dedicated new-build advisers.
This new development bolsters the existing partnerships that Just Mortgages has with housing associations, developers, introducers and lenders across the UK.
In February last year, the firm’s new-build arm reported a 40% uptick in leads and enquiries, which it attributed to an increase in the demand for shared ownership.
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John Doughty, chapter managing director at Just Mortgages, said: “Since its launch, New Build Boost has created considerable interest among budding homebuyers, providing a tangible pathway for the many who don’t quite have all the deposit or where affordability is particularly stretched. It’s a great example of innovation from Gen H to increase access to the property market and we couldn’t be more proud to be able to offer it to clients through our specialist team of new-build advisers.
“It’s certainly a massive win for Just Mortgages New Build & Shared Ownership and further cements our place, both as a trusted provider of quality advice, but also as the largest specialist new-build team in the market. We have built fantastic long-standing partnerships with leading developers, housing associations and lenders, and we’re really proud to extend our relationship with the brilliant team at Gen H.”
Pete Dockar, Gen H’s chief commercial officer, said: “Just Mortgages are extremely well-established in the new-build space, and the high-quality service they provide makes them an excellent choice to carry and advise on New Build Boost.
“Making homeownership accessible requires not only the right financing options but the right partners, too – and with their clear expertise and footprint across the country, we have that with Just Mortgages. We look forward to working together for the benefit of first-time buyers and homemovers everywhere.”
