Home purchase plan (HPP) provider StrideUp has been added to the PMS Mortgage Club lending panel.
The move will provide PMS Mortgage Club members with access to StrideUp’s residential product range of flexible HPPs. These plans allow up to 85% LTV and six times income multiples at rates starting from 6.49%.
StrideUp said it is committed to “empowering the next generation of homeowners” through accessible, inclusive, and adaptable home finance solutions.
The group’s home finance solutions have been specifically designed to support people from diverse backgrounds with their homeownership aspirations, especially those left behind by mainstream lenders.
An HPP is an alternative to traditional mortgage financing for individuals, who want to purchase or refinance a home while adhering to religious principles.
Intermediaries who have FCA HPP permissions can advise and submit business directly to StrideUp, however for intermediaries who are not HPP authorised, the customer can be referred to StrideUp who will provide the advice to the customer.
“As a financial provider, we are constantly and carefully evaluating the most effective ways to help potential homeowners looking for a flexible home finance solution but who continue to sit beyond some mainstream lending parameters,” commented StrideUp CEO and co-founder, Sakeeb Zaman.
“PMS Mortgage Club is one of the foremost names in the intermediary market and we are looking forward to working closely with the team to widen access to ethical and Shariah-compliant finance options and provide solutions that could empower a new generation of homeowners.”
Strategic relationships director at PMS Mortgage Club, Stephanie Charman, added: “We are pleased to be partnering with StrideUp at a time when demand for Shariah-compliant products continues to grow in the UK.
“StrideUp’s competitive range of home finance solutions, combined with its flexible underwriting approach and enhanced affordability criteria, makes this another welcome addition to the comprehensive range of options available to PMS members and their clients.”
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