finova Payment and Mortgage Services has announced a new partnership with home finance provider, StrideUp.

The move extends the range of lending products available to finova’s directly authorised (DA) broker club.

Through the partnership, finova members will have access to a unique shared ownership model that gives their clients an alternative option to a conventional mortgage.

Digital home finance provider StrideUp targets first-time buyers looking to get a footing on the housing ladder and aims to break down the cycle of renting by helping people buy their home with the assistance of up to 20% equity from the lender. Thereafter, buyers are gradually able to increase their ownership of the property by purchasing this equity while living in it.

Head of finova Payment & Mortgage Services, Melanie Spencer, commented: “We are delighted to be partnering with StrideUp to give first-time buyers an alternative way to finance their home purchase.

“With Help to Buy recently ending, providing our club members with exclusive access to StrideUp’s exciting products presents an exciting way to increase the options available to their customers, and will further help brokers to foster meaningful client relationships for the future.”

finova’s panel has become the first mortgage club that StrideUp has chosen to partner with, and the firm joins a panel of more than 75 lenders.

Head of intermediary sales at StrideUp, Jon Sturgess, added: “Helping people get on the property ladder earlier is at the heart of what we do, and we're delighted to join finova Payment and Mortgage Services’ lender panel to help even more borrowers buy a home that fits both their needs and budget.

“As a digital home finance provider, it’s a pleasure to partner with a tech-first firm like finova, who is equally committed to embracing technology for the benefit of homebuyers across the UK.”

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