The award – which was announced last week (7 January) – highlights The Cambridge's dedication to helping first-time buyers step onto the property ladder through innovative and competitive products as the society celebrates its 175th anniversary year.
Carole Charter, Chief Commercial Officer at The Cambridge said:
"We are delighted to be recognised as the Best First-Time Buyer Mortgage Provider for a second consecutive year. This award reflects our longstanding support for first-time buyers by finding new ways to help provide funding for people to buy their own homes – such as through our life changing Rent to Home scheme.“We manually underwrite to ensure we fully understand our borrowers' circumstances, ensuring they have access to products and expert guidance as they embark on their homeownership journey. We’re thrilled to begin our 175th anniversary year with such a fantastic achievement."
The society utilises manual underwriting to ensure each case is assessed to provide appropriate solutions that support first-time buyers, including low deposit and shared ownership mortgages.
In 2024, the mutual also introduced Joint Borrower, Sole Proprietor mortgage options enabling multiple applicants to combine their financial resources, making homeownership more attainable for first-time buyers receiving support from family or friends.
Building on its commitment to innovation, The Cambridge will also be expanding its flagship Rent to Home initiative - the first of its kind and unique to The Cambridge.
It assists first-time buyers by enabling them to reclaim up to 70% of their rental payments from a property rented from The Cambridge which they can use as a deposit on a house.
The Moneynet Awards celebrate organisations that excel in adapting to market changes, provide exceptional product offerings, and deliver services that meet the evolving needs of their customers.
Visit www.cambridgebs.co.uk for more information about our products and initiatives.
