Owning property is a common responsibility among UK residents. In fact, Avant Homes reports that 27.9 million of UK residents are homeowners. But, it has been shown that in the last 20 years, private renting has increased, and homeowner rates are increasing.
Even though there was a brief period of recovery for home ownership, it remains below its peak in the early 2000s, with affordability being the biggest reason why.
How Are Rising Costs Affecting Homeowners?
Recent reports reveal that homeowners, especially those in shared-ownership schemes, are facing steep increases in service charges, some by more than 40%. This surge in costs is placing a huge financial strain on residents, many of whom are now unable to afford the unexpected hikes or even sell their properties due to these high charges.
Startups Addressing Homeowners’ Responsibilities
These 7 startups are making sure the experience as a homeowner, or potential homeowner, is a smooth and viable one:
1. TAB
TAB is a whole life cycle, real estate finance and investment platform, established in 2018 to cater to property projects that were not aligned with the stringent criteria of traditional lenders. Recognising the need for a lender well-versed in bridging loans and experienced in efficient risk management, TAB designed a lending model that embraces flexibility and considers borrowers’ unique requirements.
With a dedicated and experienced team comprising seasoned professionals, including in-house legal experts, quality underwriters, and skilled salespeople, TAB has successfully written over £500m in loans within four years and is set to have a £500m loan book in 2024.
TAB has now expanded, and its extensive lending experience, diverse funding sources, and nationwide reach enables it to offer competitive finance solutions as well as a growing range of other investment opportunities. TAB prioritises trust, transparency, personalisation, efficiency, and innovation to deliver outstanding service to clients.
2. MRI Software
The global real estate sector is experiencing unprecedented growth, with investors and capital moving seamlessly across borders and markets. With a strong global presence and decades of expertise, MRI Software delivers flexible, comprehensive solutions that meet the evolving needs of the real estate landscape.
MRI Software’s platforms empower the commercial property sector—spanning office, industrial, and retail properties—by streamlining daily management tasks. Through the automation of complex lease calculations (including clauses, breakpoints, offsets, and recoveries), MRI Software simplifies operational processes.
Additionally, cutting-edge technologies such as footfall analytics provide real-time insights into visitor behaviour within commercial and retail spaces, enabling data-driven decisions that optimise performance and profitability.
Within the residential and social housing sectors, MRI Software’s suite of Living™ solutions support property managers across block management, build-to-rent, sales and lettings, and social housing operations. By enhancing efficiency and automating time-consuming tasks, landlords can focus on improving retention rates and fostering vibrant communities.
With reliable data processes that support compliance, MRI Software enables faster, smarter decision-making, empowering landlords and property managers to stay ahead in a competitive market.
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3. Landbay
Landbay is a peer-to-peer lending platform in the UK, connecting investors directly with borrowers for buy-to-let mortgages.
Investors can diversify their portfolios by investing in multiple mortgages, while borrowers benefit from competitive rates and a streamlined application process. Landbay offers a transparent platform with detailed mortgage listings.
4. Acasa
This startup helps users set up and manage household services like energy and internet. With being able to track bills, and split costs among housemates, this makes a perfect platform for homeowners. There are also options to switch to green electricity providers.
5. Habito
Habito makes the home-buying process easier by giving users free online mortgage advice and handling associated legal and survey requirements, making it a one-stop-shop for potential homebuyers.
The platform removes the usual fees for mortgage guidance, instead receiving payment directly from lenders. Habito supports its users throughout the purchasing journey with a team and a qualified mortgage broker and a case manager, for personalised service.
6. Nested
At Nested, their Mission is to give home-sellers certainty over their property sale from day one, without compromising on price. They do this by advancing what you need to buy your new home, whilst they sell your old one for the best possible price.
Selling a home is one of the most stressful things you do in life. It’s all-to-common to experience unclear valuations, broken chains and untrustworthy estate agents. Nested are bringing a refreshing approach to this broken industry, removing the uncertainty for home sellers, providing best-in-class service and helping their customers secure their dream home on their timeline.
With support from the people that backed Spotify and Revolut, Nested building a world-class team of techies, agents and everything in between to tackle their mission head-on. If you like the challenge of working in a fast paced, mission-driven game changer with smart, supportive colleagues, then maybe there’s a home for you at Nested.
7. Bluestone Mortgages
Bluestone Mortgages is helping those with complex credit histories, and may not meet the strict criteria and requirements of traditional loan companies. Understanding that one solution does not fit all, Bluestone gives different mortgage products made to suit differing financial situations.
They help by handling applications from those who have experienced financial difficulties such as Individual Voluntary Arrangements (IVAs), bankruptcies, or have records of defaults and County Court Judgments (CCJs).