Provides mortgage solutions that allow up to six individuals, including non-residents, to contribute as income boosters without impacting stamp duty or requiring collateral. By using flexible criteria and extended terms, it enables borrowers to access larger budgets and more affordable payments, addressing the affordability gap in a rising property market.
Funding
$1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
WAFounders
Product
Problem
Rising property prices have outpaced income growth, making homeownership increasingly inaccessible for many individuals. Traditional mortgage options often fail to accommodate diverse financial situations, excluding potential buyers who could otherwise afford a home with flexible support.
Solution
Generation Home offers innovative mortgage solutions designed to bridge the affordability gap by allowing up to six individuals, including non-residents, to act as "income boosters" without requiring them to live in the property or provide collateral. This approach enables borrowers to access larger budgets and more affordable monthly payments by incorporating the income of boosters into the mortgage assessment. Generation Home's flexible criteria and extended terms provide a pathway to homeownership for those who may not qualify under conventional lending standards. The company's "ejector seat" feature allows boosters to be removed from the mortgage when the borrower can afford it independently.
Target Audience
Generation Home targets first-time homebuyers, home movers, and those seeking to remortgage who require flexible mortgage solutions to overcome affordability challenges.
Features
- Income Booster: Allows up to six individuals to contribute to the mortgage affordability assessment.
- Flexible Criteria: Considers income from non-residents and non-family members.
- Extended Terms: Offers longer mortgage terms for lower monthly payments.
- Ejector Seat: Enables the removal of income boosters from the mortgage when no longer needed.
- Gen H Legal: Streamlined conveyancing services with dedicated conveyancers and transparent pricing.
- Dynamic Ownership: Allows for flexible ownership structures.