Unity Mutual celebrates its first partnership

Published 7th August 2019 - Getting that first step on the property ladder can be tricky. Whether it is too many people vying for the same property or saving for your deposit, the process of buying your first home can be beset with issues!

By entering into a strategic relationship with FirstHomeCoach however, Unity Mutual aims to speed up the process of saving for your deposit. Prospective first-time buyers will be able to take out a Unity Mutual Lifetime ISA – which offers the highest interest rate in the market* – through the FirstHomeCoach platform, at no extra cost.

Helping first-time buyers

This is the first strategic relationship for Unity Mutual, and is part of a wider effort to assist first time buyers in getting that all important step onto the property ladder.

Steve Code, Insurance Director at Unity Mutual says, "We are a modern mutual and we want to be able to help as many first time buyers as possible get a foot on the property ladder. A Lifetime ISA (LISA) is a tax-free savings account designed to help those aged under 40 buy their first home. Savers can pay in up to £4,000 each year and the government will then give them a 25% bonus on their savings, up to a maximum of £1,000 per year.

"The Lifetime ISA Unity Mutual provides is a stocks & shares LISA. These can sometimes be seen as riskier than a cash LISA because the value of the investment could go down. However, unlike most stocks and shares LISAs, the Unity Mutual LISA protects savers’ capital and their government bonus, plus it offers a leading, guaranteed 1.5% return until April 2020."

Making your savings work harder

Julie Hansen, Director of Distribution at Unity Mutual says, "We are delighted that our first partnership is with the forward thinking FirstHomeCoach. They really understand the challenges that first time buyers face and their Deposit Builder helps people to clearly understand how to make their savings work harder for them. Combine those strategies with Unity’s LISA and together we’ll help more people purchase their own home faster."

Paul Carse, CTO and Co-founder of FirstHomeCoach added, "Saving a deposit is one of the most challenging steps of the home buying process. We’re delighted to be working with Unity Mutual to make that step faster for first-time buyers."

*Sources – Lifetime ISAs How they work, who they're for & all best buys 12 March 2019 https://www.moneysavingexpert.com/savings/lifetime-isas/