UK Fintech Lender to Lift First Time Buyers
onto the Property Ladder

With house prices rising significantly during the pandemic, and now the cost-of-living squeeze, it has never been harder for first time buyers to afford their first home. OnLadder, a UK fintech lender, seeks to change that.

Fresh off raising their angel round of £275k, they’ll use these funds to help first time buyers take that first step onto the property ladder by offering an innovative second-charge product to supplement their deposit.

The funding round is led by Paul Rippon, Co-Founder of Monzo, with the rest of the round filled out by mortgage industry experts and others passionate about homeownership. Says Rippon, “It’s time for the stark choice of rent or buy (with a mortgage) to be joined more subtly giving more people greater financial flexibility with their home. The OnLadder team are doing that whilst considering the interests of customers and other stakeholders in the digital age.”

Recently appointed to the OnLadder Board of Directors is mortgage expert and former Director of Mortgages at UK Finance Jackie Bennett OBE. She elaborates, “Not everyone has the bank of mum and dad to turn to and the market needs more choices for first time buyers. I’m delighted to be involved in this exciting and innovative venture from OnLadder, making sure that customers get a good deal, while investors get long-term returns.”

Message from the founders, Cam Orcutt and Sam Hatley:

“For the better part of two decades first time homebuyers have been given a raw deal. They’ve been left to watch as house prices have skyrocketed, raising deposit requirements, and as more restrictive lending regulations have been instituted, limiting their ability to borrow the mortgage they need to buy a home.

This has left first time buyers on the outside looking in at what is an institution in the UK, thwarted from properly beginning to build their financial future and stepping up onto the property ladder.

OnLadder wants to be a part of the solution, providing a more flexible form of deposit financing that will enable first time buyers to achieve their goal of stepping onto the ladder quickly and responsibly.

The OnLadder team looks forward to working closely with lenders, brokers, and builders to provide financing options these customers need. This will not be easy, seemingly intractable problems never are, but it can be done and it must be done to bring about better outcomes for first time buyers.”

The raise will enable the startup to continue to progress through the FCA authorisation process, cement strategic partnerships, and to build out the startup’s initial operations.

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OnLadder is a company registered in England and Wales under registration number 12677436. Our registered office is 71-75 Shelton Street, London, England, WC2H 9JQ.

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