HOMENOW UNVEILS NEW ADVISORY BOARD TO SUPPORT GROWTH

CROSS-PARTY GROUP WILL ADVISE ON UK'S HOUSING CRISIS

LONDON, Jan. 10, 2022 /PRNewswire/ -- HomeNow is an FCA approved alternative investment fund manager challenging the traditional rental market and helping to create a path to home ownership. It is pleased to announce the formation of an advisory board, provide strategic guidance and support to the executive team of HomeNow. This will be chaired by Lord (Bob) Kerslake, the former Head of the Civil Service and a previous Chief Executive of the Homes and Community Agency.

Making the transition from renter to home owner has become increasingly difficult in recent years. HomeNow allows prospective owners to choose their home, rent for five years and receive the security of a 5-year tenancy at a fixed rent for the whole period and benefit from a third of any price increase over a 5-year period. 

For investors the opportunity of investing in residential properties with tenants who are committed to their property for at least five years ensures more reliable income and dividend streams. 

Residents, can use the "rent refund" at the end of the 5-year tenancy as a deposit contribution to purchase the property from HomeNow.

Joining Lord Kerslake on the advisory board will be:

• Tim Farron MP, MP for Westmorland and Lonsdale and former Leader of the Liberal Democrats
• George Kieffer, Chairman of the Estuary Housing Association and Haven Gateway Partnership
• Anya Martin, Director of PricedOut and Research and Insight Manager of NCVO
• Gagan Mohindra MP, MP for South West Hertfordshire
• Gabrielle Berring, former real estate banker with experience as a non executive director with a number of housing led organisations

Chairman of HomeNow UK - George Burnett said: "We are thrilled to have completed the formation of such an exceptional advisory board to support HomeNow as it grows and develops. Under the stewardship of Lord Kerslake, the board will provide advice and support using the insights they have gained from a lifetime of tackling the most challenging of problems which is unaffordable housing. They share HomeNow UK's vision to increase home ownership and we are eager to bring our solution to the worringly large and growing number of people who aspire to be home owners."

Commenting, Lord Kerslake said: "The huge hurdle of saving for a deposit has made home ownership increasingly unattainable for those who rent. Many need help to make the transition from being a renter to home owner. By helping those who aspire to be home owners onto the property ladder, HomeNow is making a positive social impact on a housing market that is at real risk of becoming exclusive and inaccessible to all but the most fortunate."

Note to Editors

HomeNow UK

The number of people renting is rising rapidly and for too many, taking the first step onto the property ladder remains a distant dream. The ability to raise the required mortgage deposit is a significant barrier to realising the dream of home ownership.

HomeNow believes the UK residential property market excludes those who may be able to afford to buy, but who are unable to fund a deposit or cannot access help from their family.

The combination of high house prices, high rental prices, whilst saving for a deposit make buying a home more difficult than ever. HomeNow is a solution that helps tenants who can afford to buy but who do not have a deposit.

With HomeNow, tenants receive the security of fixed rent in a property they can treat like home whilst investors are safe in the knowledge that they have a long-term tenant who will treat their home with care making the income and dividend streams more reliable.

At the end of the five years, the tenant gets a third of the property price increase which they can use towards a deposit. The investors also share in the increase in value. That way, both sides see the benefit – a perfect synergy.