Even, a soon to launch lender of Help-to-Buy style mortgages for first-time buyers, has today become the latest Associate member to join the Intermediary Mortgage Lenders Association (IMLA).
Even will offer a second-charge equity loan aimed at helping the many would-be buyers needing to top up their budget to be able to purchase a pre-owned property. The loan is interest-free, instead buyers share any profit or loss with the provider. Other product features include profit caps and a no-interest repayment plan for the whole term of the mortgage.
James Turford, Co-Founder and COO will be Even’s appointed IMLA representative.
Kate Davies, Executive Director of IMLA, commented:
“With the Government clear in its ambition to end its flagship Help-to-Buy scheme in 2023, the impetus has been placed on the private sector to find creative solutions for those seeking support with their homeownership ambitions. Even brings a new and inventive concept to the market, and it is really pleasing to have this type of representation among members. We look forward to hearing more from James and the Even team at IMLA’s upcoming member events.”
James Turford, Co-Founder and COO, Even comments:
“Every day we speak to aspiring first-time buyers who feel like their dream of ownership is getting further away, not closer. We want to help them bridge the gap. So, we’ve been perfecting Even for two years to give buyers what they want: a way to top up their budget that is interest-free and fair.
“We’re excited to be joining IMLA to explore ways to help as many first-time buyers achieve their dreams as possible.”
For further information please contact:
Dan Edwards, Rostrum
Tel: +44 (0)7492 062 571
Email: d.edwards@rostrum.agency
Notes to Editors
About Even
Even is opening the door to home ownership for first-time buyers across England and Wales. Even is the interest-free equity loan for first-time buyers. Investing up to two times a buyer’s deposit up to the value of £100,000. Instead of interest, Even shares in the profit or loss when you pay back. Regulated by the FCA, Even plans to start offering loans by the end of 2021.
About IMLA
The Intermediary Mortgage Lenders Association (IMLA) is the trade association that represents mortgage lenders who lend to UK consumers and businesses via the broker channel. Its membership of 46 banks, building societies and specialist lenders include 18 of the 20 largest UK mortgage lenders (measured by gross lending) and account for about 90% of mortgage lending (91.6% of balances and 92.8% of gross lending).