Unmortgage has rebranded to Wayhome as part of phase one of its brand refresh.
Since August, the Unmortgage name is no longer being used as a trading brand, making way for its ‘new and accessible’ customer-facing name.
This change follows research by Wayhome’s in-house team as part of a long-term plan to make the concept of ‘gradual home ownership’ easier to understand and bring more choice for aspiring home buyers.
Wayhome aims to help the current generations of ‘reluctant renters’ – who have largely given up the dream of home ownership – take their first steps on the property ladder without a mortgage.
Those purchasing a property with Wayhome can take advantage of its part-own part-rent no mortgage system, which will enable people to purchase as little as 5% of a property debt free and then rent the rest.
Unlike shared ownership, Wayhome says customers won’t be limited to new build property and can, instead, ‘staircase’ (buy more of the property and reducing the rent) whenever they choose.
The rebrand comes after its recent partnership with Allianz Global investors (AllianzGI) which will be raising funds from institutional clients such as pension funds on behalf of Wayhome.
Hugh Boyle, chief executive officer of Wayhome, says: CEO, Wayhome said: “There is a homeownership crisis across the country, with millions of aspiring homeowners feeling trapped in rented accommodation.”
“At Wayhome, we fundamentally believe that if you can afford to rent, you should be able to buy.”
He concludes: “In conjunction with our partners at AllianzGI, with our purpose more clearly expressed, we’re looking forward to continuing our mission to help both new and existing applicants get nearer to their dream of home ownership.”