Tipton and Coseley Building Society and Ahauz launch FTB loans
Tipton and Coseley Building Society and Ahauz launch FTB loans
Abstract
The deal will allow customers to get up to 25% of the value of a property from Ahauz as a second charge mortgage, while Tipton will offer a first charge mortgage at a lower loan-to-value ratio. The firms say: "With the soaring cost of living and house prices adding to the never-ending challenges to save for a sizable deposit, buyers are increasingly restricted on their mortgage options and are locked out of owning a home. Many being left out of the property market are renters paying their landlords well above their potential mortgage payments." Ahauz launched last September and says it has seen "Significant demand" for its equity loan product, which it adds helps potential homeowners with low deposits and boosts the limitations of what people can borrow on their incomes.
