Even’s interest-free equity loan can help first time buyer’s constrained by small deposits or LTI by tripling their deposit
How much can Even lend my client?
A quick calculator showing the max amount Even could loan your client and a downloadable PDF with monthly mortgage costs.
Does my client pass Even's affordability?
With more details on your client's income and expenditure, we can provide an accurate loan amount and indicative affordability result.
What are my client's potential outcomes?
Help explain to your client how much they will make along with the cost of using Even over chosen timeframes and sale prices.
Too many first-time buyers can’t afford to get on the ladder, despite having a 5%+ deposit. Banks won’t lend more because of LTI or affordability constraints. Even is here to help them.
Triple the deposit
Even loan up to two times a buyer’s deposit with a secured second-charge mortgage, capped at £100,000.
We split the profit or loss
Even is interest-free, instead we split the profit or loss based on the customer’s contribution vs. Even.
The borrower can pay back in chunks of as little as 10% or at the point of sale, all with no early repayment charges.
Who can Even help?
We can help those with as little as 5% saved by loaning 2x their deposit.
For buyers with enough deposit, but small salaries, Even can help too.
Can Even help your client?
No interest payable for the entire term of the loan, up to 35 years.
Even shares the increase, or decrease in value, based on our contribution relative to the borrowers’.
From a profit-cap to letting the buyer keep any renovation appreciation, Even is designed to be fair.
Main lending criteria
- First time buyer
- Buying a home to live in
- Min 5% deposit
- UK resident
- Prime or near prime (thin file OK)
- England or Wales
- Valued at £100k - £1m (>£150k in London)
- No major compromises (e.g. structural issues, a short lease)
- Is not so unusual we can’t value it
- Up to 2x deposit
- Minimum loan £7.5k
- Maximum loan £100k
- Maximum 30% combined deposit