Market Mortgage, the innovative home lending start-up, has announced today that it has secured funding from investment firm Middleton Enterprises.
Market Mortgage was founded in 2017 by Eliot Darcy and aims to help more first-time buyers – who are often excluded from the housing market – get their foot on the property ladder.
Middleton’s investment will help Market Mortgage expand its operations, enabling a number of UK retail banks and building societies to offer a wider range of mortgage products for those who don’t have a big deposit. Market Mortgage’s shareholders have been integral in supporting the company’s growth and with £2m now invested to date, they clearly see a bright future for the company.
Capita – the FTSE 250 consulting, transformation and digital services business – was the first company to invest in Market Mortgage back in 2017. With support from Capita’s corporate development arm, Capita Scaling Partner, Market Mortgage has scaled up at speed and is well positioned to bolster its clients’ growth plans.
Eliot Darcy, founder and CEO of Market Mortgage said: “It’s increasingly difficult for first time buyers with a small deposit to get their foot on the property ladder, even if they can comfortably afford mortgage payments. We set up Market Mortgage to address this problem.
“This will be a pivotal year for the company, and the latest investment we’ve secured from Middleton Enterprises will help us achieve significant growth in 2021.”
Mike Elliot, finance director at Middleton Enterprises, said: “The team has been hugely impressed by the progress made by Eliot and Market Mortgage so far. The business has a fantastic value proposition for lenders, investors and borrowers via its innovative approach. We are very excited to see what the future can bring in both financial returns and also facilitating responsible access to consumer finance.”
Jon Lewis, CEO of Capita plc, said: “It’s great to see that Market Mortgage will be helping those who are prime first-time buyers – but are not cash rich – buy their first home. We welcome Middleton onboard for this exciting stage of growth.”
