HELP FIRST-TIME BUYERS ONTO THE PROPERTY LADDER
The even equity loan is like help-to-buy, but for pre-owned homes
It can be a struggle to find the right deal for first-time buyers who are constrained by either LTI or low deposit. But now Even can help – with their interest-free equity loan. If your client has 5% saved towards their target price, Even could loan up to twice their deposit, up to £100,000.
It’s the only interest-free private equity loan on the market, so it won’t materially affect monthly affordability payments for your client. Instead of charging interest, they share in the increase or decrease in the property value when the owner repays the loan. Their share in the change in value is relative to their contribution vs the borrower’s deposit.
Their outcome is always aligned to the customers — they only do well if customers do!