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Proportunity is a London-based company that offers equity loans to help citizens boost their deposits so that they can afford to buy homes rather than rent.
The smart platform uses a mortgage calculator to determine the size and interest late of a possible Proporutnity Loan based on an applicant's income and the price of the house they wish to buy.
Proportunity's competitive advantage as a lender comes from there use of machine learning to forecast future housing prices in general as well as finding neighborhoods that can see the highest growth in the following years. Once this artificial intelligence identifies a property for sale that offers good growth prospects, they contribute as much as 15% to the initial deposit on the home. As a result, Proportunity claims that home buyers can apply for mortgages with lower interest rates such that the combined mortgage payments and Proportunity loan repayments are lower than the mortgage payment would have been if the home buyer paid the minimum deposit and had a higher loan-to-value ratio on their mortgage.
