Mortgage and protection network, The Finance Planning Group, has announced a new partnership with Proportunity.

The Finance Planning Group uses software to acquire leads, process the mortgage application and offer an individual financial planning service.

Proportunity’s loans work in a similar way to the government’s Help to Buy scheme, except they are also available to those who are already on the housing ladder as well as first-time buyers.

The lender helps potential homeowners with a 5% deposit up to £150,000 or up to 25% of the property value, which also enables borrowers to get a mainstream mortgage at a lower rate of interest as they can borrow on a lower LTV, lowering the overall cost of their mortgage. Some borrowers can increase their total level of affordability up to six times their salary.

Proportunity head of intermediary partnerships, Paul Lewis, commented: “This deal is a testament to how visionary and forward looking The Finance Planning Group is.

“It means that brokers in The Finance Planning Group will now be able to provide their mortgage clients with innovative new options to help them either to get on the housing ladder or to take that next step up into a bigger property.”

The Finance Planning Group marketing director, Mark Ninnim, added: “The Proportunity solution is truly innovative, enabling borrowers to purchase existing properties as well as new build ones.  It will also fill a much-needed gap as the Help to Buy scheme tails away.

“With escalating house prices, the Proportunity shared equity loan will help our clients right now, to scale up and buy that next property that they would otherwise struggle to afford. For some people this really will be a lifeline, so for us it was a no-brainer to launch with Proportunity to make this option available to our brokers and their clients.”

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