Go get yourself Ahauz
Karthik Srivats (27) and João Rocha (29) founded the business when they realised that the bank-busting deposit required meant they could not afford to live in London, despite having relatively good monthly incomes.
Karthik & João found that many of their friends had faced similar issues and those who had managed to buy property had had help from parents - something which is obviously not possible for everyone. They quit their jobs in April 2017 and set about creating the ‘Bank of Mum and Dad for Everyone.’
While Ahauz’s product is similar to the Government’s ‘Help to Buy’ equity loan scheme, Ahauz does not restrict buyers to purchasing new build houses and does not enforce price caps. This means that there are far more houses and postcodes available to buyers. With Ahauz's help, first-time buyers can now secure that longed for Victorian semi, a 1930s terrace or a midcentury gem.
Ahauz is able to provide buyers with a contribution towards their deposit for up to 15% of a house’s value. With just a 5% deposit, the buyers can now afford a house of large value and access better interest rates.
The business has also partnered with mortgage lenders to ensure that their contribution is accepted as a viable deposit.
We can't wait to see what Joao and Karthik are going to achieve with this - to us it seems like an obvious solution to a problem faced by a whole generation.
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