Supercharge your buying power with 20% more than a mortgage

StrideUp IncomeMax caters to the most common requirements that fall outside of mainstream mortgage lending. We can offer up to 6.5 times income where circumstances allow, helping more people buy earlier, bigger or better.

Blue house door London

Key features

Up to 6.5x income
Flexible criteria
Choose any property
Build up to full ownership
Testiomonial
We did a lot of research and we first went with a high street lender. They gave us an offer but it didn’t match the houses we were looking for. There’s no way we could have afforded the houses we wanted
The Nettey Family

Unlocking greater finance for home ownership

The goal was to trade up their two-bedroom home for a four-bedroom house. Terry says “at the beginning of last year, we had a little baby placed with us so it made it quite tight.”

But when the Harmans went for mortgage approval, they were told Amber’s foster care work could not be counted towards the increased mortgage amount they needed. The move they’d planned for their growing family looked to be derailed.

Muslim woman reviewing home mortgage

How it works

What is the StrideUp Home Purchase Plan?

StrideUp's Home Purchase Plan gives people a fair and accessible way to buy their home. Some people come to us because we can help them buy a better property than they could with a mortgage, whilst others just don't want to go with a conventional bank product. Some key points:

  • An alternative to a mortgage. A Home Purchase Plan is an alternative to a mortgage that you might get from a bank, however, instead of lending you money, we jointly purchase the property with you and you gradually buy it back from us.
  • It's a regulated product. Just like a normal mortgage, Home Purchase Plans are regulated products (regulated by the Financial Conduct Authority), meaning you get similar protections and rights.
  • Helping you make the leap from renting to owning. Because you don't have to buy 100% of the property on day-1, we might be able to help you buy a bigger home, a better home, or just buy earlier than you otherwise could.
  • Locking in all gains from house price increases. Even though we buy part of the property with you initially, any profit from the house price going up belongs to you, meaning you'll never have to pay more than the initial price to buy back from us!
  • Protection against house price falls. Whilst all the house price gains belong to you, if house prices fall and you have to sell, we'll share in some of the loss with you.
How is buying with StrideUp different to a mortgage?

With house prices so high many people find it difficult to save up a deposit and buy a home. In the meantime they're spending lots on renting - money that could be going towards their own place!

StrideUp has launched a completely new way of buying a home to make it more affordable and accessible. It's a bit like a mortgage and a bit like shared ownership. You put down a deposit and we'll actually buy the property with you. You make monthly payments - basically renting our part of the property and gradually buying it from us. There will be a bit left over at the end (20% of the property, which we call the Equity Share) - whenever you're ready you can make additional payments to buy this from us.

So comparing StrideUp to a regular mortgage lender:

  • we're also a home finance provider, meaning we provide the money you need to buy a home
  • we are authorised and regulated by the Financial Conduct Authority (FCA)
  • you can choose a property of your liking from the open market (subject to eligibility)
  • you can buy a home by putting down a deposit (minimum 15%) and making monthly payments (towards renting our share and buying more of the property from us)

Where we're different from a mortgage:

  • we don't lend you any money, rather we jointly buy the property with you
  • if house prices fall and you have to sell your home, we actually share in some of this loss with you
  • if you make the monthly payments (i.e. the minimum amount each month), by the end of the term you will own 80% of the property (the Buyout Share) but you'll have to make additional payments to purchase the 20% Equity Share.

Your home may be repossessed if you do not keep up the payments on your Home Purchase Plan.

What monthly payments do I have to make?

Your monthly payment is made up of two parts:

  1. Rent on our share of the property. On the part of the property that we still own, you will need to pay a monthly rent based on a Rental Rate. The way this Rental Rate is calculated and set will be explained in your offer before you proceed with StrideUp.
  2. Acquisition payments. Every month part of your payment goes towards buying a further slice of the property - this way your ownership percentage is always increasing and StrideUp's is decreasing.

Example Rent Calculation

Let's say you buy a £250,000 property with a £25,000 deposit and £225,000 from StrideUp. This means you initially own 10% of the property and StrideUp own 90%. If your Rental Rate is 4.89% (for example), this would mean paying £225,000 x 4.89% / 12 = £916.88 per month in Rent

Example Acquisition Calculation

We would figure out the amount of monthly Acquisition payments so that by the end of the term, you'll end up owning the Buyout Share percentage of the property (usually 80%).

The monthly amount therefore depends on the term you've chosen - using the same example as above, imagining the term is 30 years, then initially the monthly Acquisition Payment would be £214.58.

What is the Buyout Share and Equity Share?

You buy your home by putting down a deposit and getting a Home Purchase Plan from StrideUp. The Home Purchase Plan is made of a Buyout Share and an Equity Share.

Buyout Share

  • The Buyout Share is the part of the Home Purchase Plan that you will gradually buyout with the monthly payments.
  • The size of the Buyout Share will depend on the amount of deposit you put down. Your deposit plus the Buyout Share will equal 80% - so using the example shown in the picture below, if you put down 15%, the Buyout Share will be 65%.
  • For the Buyout Share StrideUp do not share in any loss on the property - so you'll have to purchase this from us based on the day-1 property price.

Equity Share

  • The Equity Share is the part of the Home Purchase Plan that will remain outstanding unless you make additional payments (i.e. payments above the required monthly payment). These additional payments can be one-offs, or set up as a regular contribution.
  • The Equity Share will be 20% of the property price. For example, if you buy a £250,000 property, the Equity Share will be £50,000. It does not depend on the amount of deposit you put down.
  • The Equity Share protects you against losses in the value of your home. If you have to sell the property and the market has fallen, StrideUp will share in the loss on the Equity Share. However, if you're refinancing or buying it from us, this will be at the day-1 price.

Your home may be repossessed if you do not keep up the payments on your Home Purchase Plan.

01

Discover your buying
budget in 2 minutes.

Depending on your circumstances we can offer up to 20% more than high-street banks.

No credit checks, no headaches

02

Apply online through our handy portal.

In 15 minutes we should have everything we need and can give you a same day Decision in Principle.

One of our advisors will follow up with a call

03

Complete the paperwork and collect your keys.

Our support team will work with you every step of the way.

Use the StrideUp portal to manage your home purchase process

Who we support

The key criteria:

You have a good credit history

You have at least a 15% deposit

You’re a UK citizen or have 2 years remaining on your visa

You're buying a primary residence

We’re here to help whatever your circumstances

When you sign up to StrideUp, we’ll do our best to help you along your homeownership journey. Should our products not match your needs, we can stay connected and keep you posted about new products. Either way our advisers are here to help.

Here to support you
from start to finish

With StrideUp you get a dedicated adviser to help you from initial application right through to picking up the keys to your new home. All of our advisers are CeMAP qualified and they’ll take the time to understand what’s really right for you.

Asian family sitting on couch