Nested's newest product, Even, helps first-time buyers onto the property ladder.
Transforming the many things that are broken about the way we buy and sell homes is a pretty audacious goal whichever way you cut it. But for the Nested team, the last four years have been spent successfully solving some of the biggest problems associated with home ownership in the UK.
Our journey began with the ground-breaking ability to break chains. The cash advance enabled movers to buy before they sold, which consigned the dreaded “fall-through” to the dustbin.
Not content with that, the team has also built the world’s first truly modern estate agency, blending smart tech with trusted local agents, which one seller recently described as “the future of estate agency”.
Today, we’re pleased to announce the arrival of the newest product in the Nested stable. This time we’re tackling another biggie—getting first-time buyers onto the property ladder.
Lose the landlord
The rent trap is real. We’ve spoken to hundreds of renters who just can’t save enough to get on the ladder. Many pay more in rent than they would for a mortgage.
Thousands of us are paying off someone else’s mortgage, while rising prices mean ownership grows further out of reach each day.
Time to get Even
Even is an interest-free equity loan that boosts a first-time buyer's budget by up to £100,000, or two times their deposit.
By partnering with Even, first-time buyers can lose the landlord and get onto the property ladder sooner.
When the property is sold, Even split any profit made on the property with the seller based on the amount we contributed to the deposit at purchase.
And of course, because it’s a partnership, if the property goes down in value at the point of sale, Even will share the loss. This is just one of a raft of features of the partnership that ensures that buying with Even is a genuinely fair alternative to renting.
We anticipate Even being a perfect match for people for whom homeownership is just out of reach. Those of us without access to a bank of mum and dad, but with enough income to run a household.
Doors opening second half of 2021
We’re working incredibly hard to get everything ready to launch Even as soon as possible. In the meantime, you can get email updates or even join the waitlist at joineven.com - where you will be the first to hear about our launch date.
We love to hear from you! If you have any questions or ideas you can also email email@example.com - we’d love to hear from you.
Even is a second charge-mortgage secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.