Ahauz launched in September 2021, with a proposition that boosts the deposit of first-time buyers by providing them with an equity loan.
Mortgage lender Ahauz has partnered with mortgage broker Tembo in order to expand the lender's coverage across the country.
Ahauz launched in September 2021, with a proposition that boosts the deposit of first-time buyers by providing them with an equity loan.
This aims to combat the challenges faced by first-time buyers in terms of increasing house prices and restricted mortgage options, providing a private alternative to the government's Help to Buy scheme.
Ahauz also aims to provide more choice, for those seeking home ownership through these types of schemes, beyond just new-builds.
Ahauz offers customers an equity loan of up to 25% of the property purchase price, enabling customers to boost their total borrowing to 6-times their household income.
Karthik Srivats, co-founder of Ahauz, said: “Our partnership with Tembo is another significant step forward in our mission to empower people through home ownership.
"2022 has already seen a significant step-up in interest for our product, and we expect that trend to grow throughout what is poised to be another challenging year for first-time buyers.
"We’re looking forward to working with Tembo and helping their clients to get the home they really want, by providing an alternative to the bank of mum and dad and Help to Buy.
"An Ahauz equity loan could be the difference needed to secure their clients the funding they need and the home they really want to buy.”
Richard Dana, CEO and co-founder of Tembo, added: “It remains frustratingly clear that most first-time buyers can’t afford to buy without additional support - our data shows that many buyers expect to pay nearly nine times their average earnings to buy a home.
"At Tembo, we are on a mission to change this – to make homeownership possible for a new generation of buyers.
"Our partnership with Ahauz helps us increase accessibility even further; meeting the needs of those customers who are struggling with affordability, but can’t use family support to get their first set of keys.
"We look forward to working with the team at Ahauz to provide innovative solutions to first-time buyers where traditional routes have failed.”
