StrideUp secures up to £280m in debt funding from ARA Venn to expand home finance products.
The debt funding deal from ARA Venn will support the nationwide rollout of StrideUp and its shared ownership mortgage product.
StrideUp is a digital home finance provider authorised by the FCA to offer alternative mortgage products. Based in London, the firm addresses affordability challenges for first-time buyers through shared ownership plans.
Digital home finance group StrideUp has secured up to £280m in debt funding from specialist real estate debt investment manager ARA Venn. The capital will support the nationwide rollout of the company shared ownership mortgage product, which is designed to help first-time buyers overcome affordability barriers by offering income multiples of up to six and a half times.
Founded to address the growing deposit trap and rising house prices, StrideUp provides a flexible alternative to traditional lending and government schemes like Help to Buy. The product enables buyers to purchase a major share of a property with a 10 percent deposit while renting the remaining portion, with values frozen at the initial purchase price.
From the founder
"We are excited to bring an innovative, scalable product to market solving a hard real-world problem for an entire generation that is priced out of home ownership. We believe this funding is an early step in making a material dent in the challenges facing first time buyers realise their aspirations."
Rohan Trivedi
Co-founder at StrideUp
