Proportunity appoints national account manager
Matt Surridge has joined Proportunity as national account manager and will be the main point of contact for brokers as the firm grows its intermediary distribution channel.
With a wealth of mortgage experience, Matt joins Proportunity from fintech lender MQube where he was key account manager.
His previous roles include national account manager at Mortgage Brain, regional manager and BDM at Countywide Mortgages and financial adviser at Lloyds Banking Group.
Proportunity is a unique shared equity loan provider that works along the lines of the government’s Help to Buy scheme but is more inclusive.
Unlike Help to Buy, Proportunity is open to homeowners, not just first-time buyers, and is available for previously owned properties as well as new build.
Customers need just a 5% deposit and Proportunity will lend up to £150,000 or 25% of the property value.
This means they can apply for a mainstream mortgage at a lower rate of interest as they effectively have up to a 30% deposit.
Paul Lewis, head of intermediary partnerships at Proportunity, commented:
“Proportunity is like a breath of fresh air in the lending sector. We are opening up so many new relationships with brokers that I need to build up my business development team.
Matt is a fantastic addition to the company and will be a huge asset as well as being an experienced and knowledgeable contact for the broker community.”
Matt Surridge, national account manager at Proportunity, commented:
“This is an exciting time to join a new shared equity lender with a unique proposition. Proportunity can help many people buy a home who otherwise would not be able to get a foot on, or indeed climb, the housing ladder.
I’m really looking forward to getting out on the road, meeting lots of brokers and help them find a solution for their clients.
Proportunity offers a great alternative to Help to Buy, which is due to close in less than 18 months and is now restrictive on eligibility.”
As Proportunity increases the number of mortgage lenders it partners with, the firm anticipates a healthy uptake of its product.
It plans to help 2,000 customers over the next 18 months, which will create a £500m-£700m lending volume opportunity for accompanying first charge lenders.