"Ahauz’s equity loan proposition is a great partnership that helps us provide lending solutions for those looking to take their first steps on the property ladder."
With this new partnership, customers will be able to get up to 25% of the property value from Ahauz as a second charge mortgage, and Tipton will offer a first charge mortgage at a lower LTV. While customers can get a boost on their home buying budget of up to 25%, both lenders already assess affordability accounting for the two mortgages.
Karthik Srivats, co-founder of Ahauz, said: “It’s fantastic to have such an established institution like the Tipton working alongside us to help a generation trapped in renting. We have been impressed on how Tipton perceives our equity loan and its potential to be scaled across all properties, not just new builds.
"This is already another challenging year for first-time buyers, and we hope that more lenders follow Tipton’s steps of adding to customer choice.
"The Ahauz team really looks forward to working with Tipton and our broker partners in helping as many customers to secure the home they want.”
Becky Wheeler, marketing and product manager at The Tipton, added: “In an era of rising property prices and cost of living increases, it is ever harder for first-time buyers to raise a large deposit. At the Tipton, we are proud to support first-time buyers and Ahauz’s equity loan proposition is a great partnership that helps us provide lending solutions for those looking to take their first steps on the property ladder.
"We look forward to working with the Ahauz team and our broker partners offering innovative solutions to first-time buyers.”