Employer Subsidised Mortgages
Employer Subsidised MortgagesTM (ESM) is one of the most sought-after employee benefits, enabling employees to pay off their mortgages faster, whilst saving money.
Surveys have shown that where ESM is added to the number of available employee benefits, it invariably goes to the top of the list. This is even more so when ESM is used to fund home deposits to enable first time buyers to enter the housing market.
The Mortgage is the biggest single-cost liability that people have. Subsidising and reducing it is the most valuable employee benefit to have.
Employer Subsidised Mortgages
Home ownership has fallen with rising house prices now standing at an average of 7.6 times the annual salary. The average cost of monthly mortgage payments on a three-bedroom house totals £965.33 making housing the biggest monthly expense for employees. Employee subsidised mortgages are arguably one of the most attractive benefits an employer can offer. The savings or increase in value for the employee can be substantial.
Mentor Financial Services Limited brings a bespoke total package to the employer relating to subsidised mortgages, funding home deposits, providing employee assistance, and scheme administration, as well as other benefits.