SimplyBiz Mortgages partners with new mortgage lender Generation Home

Generation Home launched in October 2020 and offers joint borrower sole proprietor mortgages, allowing family or friends to provide deposit support by way of an equity loan.

Richard Merrett, head of strategic development at SimplyBiz Mortgages, commented: “We are delighted to partner with Generation Home, which offers a unique proposition designed to help more customers achieve their goal of home ownership. The affordability challenges and dependence upon family assistance for deposits for first-time buyers, in particular, are well documented, and innovative lenders and products are vital to unlocking the market for a greater number of consumers.

“We strive to bring our member firms solutions to meet more of their clients’ requirements and, whilst we are just in the early stages of this partnership, we have already seen overwhelming interest in Generation Home’s proposition. We look forward to seeing how the relationship further builds upon our objective of delivering of better consumer outcomes across the market.”

Will Rice, CEO of Generation Home, added: “Capital accumulation is the greatest challenge faced by young people, who struggle to get onto the property ladder while saving for their own retirement. Through our products, not only are we providing better ways for families to lend a hand but also making it possible for millions to do this where they couldn’t before.

“Our partnership with SimplyBiz Mortgages will give us access to a broad and engaged community of advisers, helping thousands more aspiring homeowners realise their dream of home ownership.”