Startup offers loans to first-time buyers based on AI pricing prediction
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London is notorious for its unaffordable property prices. With the average London home priced at around 475,000 GBP, first-time buyers are finding it all but impossible to get on the housing ladder. This is because most lenders require a deposit of at least 10 percent of the purchase price. Now startup Proportunity would like to offer help. The company claims that its machine learning platform can accurately forecast future house prices in different areas of London. Based on this modelling, the company offers equity loans to boost the deposit for first-time home buyers in areas that will see the greatest…
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