Available for any home, anywhere, not just new builds or first-time buyers. Proportunity can help all homeowners
Minimum £30,000 - Maximum £150,000. Anything between 10% to 25% of the purchase price will go towards boosting your deposit
Proportunity can help you get onto the property ladder and increase your budget. Imagine it's like a private version of Help To Buy but for any property
The Proportunity Loan allows home buyers to top-up their existing deposit (minimum 5%) so you only need to apply for a smaller mortgage from a traditional high street bank or building society
Find out where the best places to buy are and what a property is worth. Proportunity has the technology to help you find undervalued homes to buy
When you decide to pay back the Proportunity Loan, the cost is based on the loan amount plus/minus your home’s appreciation/depreciation
Proportunity is a private company that operates as an equity loan lender. An equity loan is a second charge, a technical term, so let's look at each in isolation. Equity loans are directly linked to the value of your property both now and in the future, regardless of if your property value rises or falls. You borrow a percentage of the value of your property on an equity loan, and at some point in the future, you will need to repay that loan. You will repay the same percentage you borrowed initially when you repay the equity loan. However, this will likely be different to the pound figure you borrowed. For instance, assume you wanted to buy a property for £200,000 today, and you borrowed 25% of the £200,000 as an equity loan you would be borrowing £50,000 however, if in 5 years your home had risen in value to £300,000, you would repay 25% of £300,000 which is £75,000. However, if the property's value goes down in value, you may pay back less, according to the percentage that you borrowed as an equity loan.
A second charge is a legal term that relates to who gets paid first if a mortgage lender needs to repossess your property. For example, a standard mortgage that you might get from a high street lender is called a first charge. This means that if the mortgage lender had to repossess your property, the first charge gets paid off first, and the remainder of any equity, assuming there is any, would then be paid back to you following the sale of your home. The way a second charge operates is that if your home is to be repossessed, the first charge gets paid first, the second charge gets paid with the remainder, and if there is anything left at that point, that is what you may receive back.
Proportunity works by allowing you to increase your deposit through an equity loan and therefore increases your purchasing power, enabling you to buy the home you want rather than settling for the homes you may be restricted to due to affordability constraints put in place by standard mortgage lenders.
Proportunity is not suitable for everyone, and not everyone will be eligible for this scheme. Therefore, you should always seek advice if you're considering a scheme such as this to understand the pros and cons and whether it fits your demands and needs.
Proportunity is an equity loan that can help to boost your deposit.
A Proportunity equity loan is similar to the government's Help to Buy scheme but with fewer restrictions. You can use the loan for either new-build homes or existing properties, and you don't need to be a first-time buyer. With Proportunity, you will be own all the property, but you will also make interest payments on the equity loan from day one, whereas the Help To Buy scheme is interest-free for five years; however, Help To Buy is only available on new-build homes that are registered with the scheme.
Yes. You do not need to be a first-time buyer to use Proportunity, whereas the Help To Buy scheme is currently limited to first-time buyers only. If you want to use Proportunity, the property you are buying must be your primary residence.
Proportunity can lend up to a maximum of 25% of the property value, capped at £150k. Proportunity also has minimum loan sizes, 5% of the property value subject to a minimum loan of £20k.
Your maximum budget is a combination of your deposit, up to 25% of the value of the property and the maximum loan amount you can borrow on a standard mortgage for the remainder of the purchase price. It's our job to determine both the size of Proprtunity loan you may be eligible for and to make sure this all fits with a standard mortgage lender. These sums can be complex, and you should contact us to discuss your circumstances.
No. Only specific mortgage lenders work in conjunction with Proportunity, which means that you will need to contact us regarding both the Proportunity loan and the standard mortgage. This does mean that if you want to use Proportunity, the choice of lenders available will be reduced. However, this shouldn't stop you from considering Proportunity. Our Process is to determine if it's suitable for you.
If you're considering Proportunity to buy a home, then the first stage is to contact us, and we can arrange an appointment to conduct a fact find. This is where we gather all the necessary and relevant information about your circumstances, such as address history, employment status, income & outgoings and credit history. We request all the documentation, and only once we have everything on file can we assess your eligibility for Proportunity. You don't need to worry; if we don't think Proportunity is a good, necessary or sensible option for you, then we won't recommend it. After all, our primary concern for all our customers is you receive the highest quality independent advice that is right for your circumstances.
We love our customers, so feel free to call or email during regular business hours. If you'd like to book a consultation about Proportunity, contact us using this form.
Mansfield Business Centre, Ashfield Avenue, Mansfield, NG18 2AE
09:00 – 20:00
Terms & Conditions
Lewis Shaw (FCA registration number 927754) trading as Shaw Financial Services is an appointed representative of King Mortgages Ltd which is authorised & regulated by the Financial Conduct Authority, FCA registration number 803561.
There may be a fee for arranging a mortgage. This will typically be £499.
Think carefully about securing other debts against your home
Some forms of Buy To Let mortgages are not regulated by the Financial Conduct Authority. The guidance &/or advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers in the UK. As with all insurance policies, conditions & exclusions will apply.
YOUR HOME (OR PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Office Address - Mansfield Business Centre, Ashfield Avenue, Mansfield, NG18 2AE
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