7 years ago

Unmortgage Raises £10M to Revolutionize Homeownership with 'Part-Own, Part-Rent' Model

  • Unmortgage, a London-based startup, has raised £10 million in a seed round to launch its 'part-own, part-rent' housing model

  • The company allows people to buy a small percentage of a home and rent the rest, eliminating the need for a mortgage

  • Unmortgage aims to help first-time buyers struggling to enter the housing market

  • The seed round was led by Anthemis Exponential Ventures and Augmentum Fintech plc.

      • ProblemReal Estate

      "Buying a home in the UK is extremely difficult, especially for first-time buyers, due to rising house prices and the need for large deposits. This creates a vicious cycle where people are unable to save for a deposit because they are spending their money on rent."

      Solution

      "Unmortgage offers a 'part-own, part-rent' model where people can buy a small percentage of a home and rent the rest, eliminating the need for a mortgage. This allows individuals to gradually build equity in their homes without taking on significant debt and provides more flexibility than traditional shared ownership schemes."

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