Bricklane.com will soon launch the UK’s first online Property ISA, which aims to help ‘Generation Rent’ get a toehold in the property market whilst saving up for a deposit on a new home.
Savings invested with Bricklane.com will track UK house prices and generate rental income on top, meaning savers can finlly keep pace with the property market rather than seeing house growth continuously outpace their savings.
ZPG, which owns Zoopla, uSwitch, PrimeLocation and Property Software Group portals, will invest in Bricklane.com to help support its growth, and it will also promote the Bricklane.com Property ISA on the Zoopla website under an exclusive partnership agreement. This will be part of Zoopla’s new ‘Invest’ channel due to launch at the end of September.
“Bricklane.com have come up with a great, painless way for savers to get exposure to the housing market,” said Paul Whitehead, Group Strategy Director of ZPG.
“This product is especially useful for first-time buyers saving towards a deposit or homeowners looking to move up the ladder who too often have seen house prices grow at a much faster rate than their savings.
“The innovative online Property ISA will allow those saving for a property to keep pace with the market. This product is perfect for our investment strategy at ZPG and our soon-to-be-launched Invest channel on Zoopla.”
Simon Heawood, CEO of Bricklane.com said the team was “delighted” to have the support of ZPG and to partner with the group.
“We are looking forward to launching our product through the new Zoopla Invest channel with access to their huge audience of property-interested consumers,” he said.
“Our innovative Property ISA offers a uniquely simple investment for those seeking to participate in the property market, from £100.”