London-based fintech, Proportunity, has raised £105m in investment through debt and equity funding as it aims to support more people achieve their UK home ownership dream.
The new investment will help more than 2,000 individuals and families to buy their first home or progress up the property ladder by enabling Proportunity to grow its team and increase the maximum loan size from £90,000 up to £150,000 per home.
Lending since 2018, Proportunity provides home purchase equity loans, similar to those available through the UK Government’s Help to Buy scheme.
Vadim Toader, Proportunity CEO and co-founder said: “In the UK there is a £100-200K gap between what buyers want and what they can afford, mainly caused by maximum income/mortgage ratio restrictions and high deposit requirements. In a market of fast-rising house prices, first-time buyers and those wishing to progress on the property ladder are facing a losing battle. Proportunity provides a solution which closes the gap and helps buyers afford the property they want in the communities where they want to live.”