The MCI Mortgage Club has added Proportunity to its lending panel.

Proportunity Loans provides second charge top-up loans to help buyers leverage larger lending deals up to £150,000.

The mortgage club says members will be able to unlock up to six times salary for their customers. 

It adds that a client can have as little as a 5% deposit and Proportunity will provide an equity loan to increase this to between 15% and 30% of the property’s value. 

The club adds, until 30 September the lender will charge no product fees on new cases that come through its network.

Its loans are available on both new-build and existing properties across England and Wales for first-time buyers and existing homeowners. 

The firm’s loans work alongside a main bank mortgage product, with both loans taken at the point of purchase by owner-residents.

Proportunity was founded in 2016 by chief executive Vadim Toader and chief technology officer Stefan Boronea.

MCI Club head Melanie Spencer says: “We are always looking for lenders that bring something different to the table and provide innovative solutions.

“First-time buyers, some people getting divorced and other people with small deposits can find it particularly challenging to get a mortgage and buy a property.

“The addition of Proportunity to our panel will therefore give our brokers a unique opportunity to help more clients as they will be able to borrow up to six times income with just a 5% deposit.”

Proportunity Loans chief executive Vadim Toader adds: “We are really excited to work together with The MCI Mortgage Club to help today’s young buyers afford the homes they want. 

“It’s a pain point that is becoming increasingly acute as house prices grow and the Help-to-Buy scheme comes to an end. 

“We hope that MCI’s club members will immediately see the benefit that our loan can provide for those struggling with deposits and long-term affordability. 

“To welcome brokers through our new partnership with MCI, we will waive all product fees for the next two months until 30 September for all cases submitted through MCI club.” 

Earlier this month, MCI Mortgage Club added bridging lender Glenhawk to its panel.

Glenhawk provides short-term loans on residential, commercial and semi-commercial property, refurbishment and conversions as well as second charge with rates starting from 0.65%. Loans range from £250,000 to £5m on all unregulated products.

While last month, Proportunity joined the Intermediary Mortgage Lenders Association as an associate member.