UK Property crowdfunding specialists, Propnology, have announced they are developing a new platform, aimed specifically at helping first time buyers raise money toward a deposit for their first home.
Gifted Deposit will be a social enterprise, reward and donation-based, platform, completely separate from the FCA-authorised Propnology — which focuses on crowdfunded investment property.
The new platform is being created to allow aspiring first time buyers to tell their story — through text, photos and video, and promote it to their network of family, friends, followers, colleagues and the Gifted Deposit community. The platform will also allow individuals to reward their contributors and supporters — offering anything from invitations to their house warming party, to them doing volunteer work in return for the financial support they receive.
The platform aims to leverage the new government help to buy initiatives, which will enable first time buyers to deposit the funds they raise in the new Help to Buy ISA and receive a tax-free bonus of 25 percent — with a maximum government contribution of £3000 on savings of £12000.
Owen Angel, Co-founded said ‘In much the same way as social enterprise platforms have automated sponsorship and charitable donations, we aim to address the issues of first time homeownership in the UK by providing a vehicle to help raise money toward a first time buyers’ deposit and help more people to realize their dreams of homeownership.
The prelaunch site is now live and allows people to sign-up before the launch of the platform and the company has also launched a Seedrs campaign to raise awareness and gain investor support for the project.
Visit www.gifteddeposit.co.uk for more information.