The first thing to note: This isn't some doggone scheme dreamt up by housebuilders to flog off houses they can't sell (by cutting the entry price while making you pay more at the far end).
What is it then? EquityShare is an open market product that puts YOU in charge of the buying process, so that you can buy ANY PROPERTY, ANY TIME - as long as it's going to be your home.
How does it work? We give you cash, when you need it, to buy the house of your dreams. House sellers LOVE people with cash - it cuts out all of those chains. In this market, CASH IS KING.
Are there any catches? Well, the property has to be in your price bracket. And your credit has to be OK. But if you can get a 75% mortgage, we'll run with it.
So what is the typical deal? You pay a 5% deposit and carry the purchase costs (lawyers' fees, stamp duty etc). The mortgage lender provides 75%. We put in 20% equity in return for a share of the property. We call this arrangement '75/20/5'. Other combinations are possible, eg 75/15/10, 85/10/5 etc.
What does it cost? We charge a fee, and you pay a rent on our share. Try the calculator opposite to find out how much it will cost.
Is your scheme expensive? No, the very opposite! EquityShare gives you accesss to 95% house finance at a much cheaper rate than a conventional mortgage. WE CAN PROVE THAT OVER 5 YEARS YOU WILL SAVE THOUSANDS OF POUNDS. This helps you to build equity more quickly.
What is the best deal? We recommend 75/20/5 as it gets you started on the savings you've built up to date, while giving you access to a great mortgage rate.
Are mortgage companies happy with this? Not all. But we have sign-off from Britain's biggest mortgage lender - so you are in safe hands.
How long does the scheme run? You can take up to 10 years to redeem our share. Actually, we find a lot of people buy us out inside 5 years. They do this by remortgaging the property. You can choose when it suits you best to do this. It's much easier to remortgage a property than to get a mortgage first time round. Think of EquityShare as a step up to full property ownership - or the other half of the ladder that you need.
Is there a penalty for early redemption? No. We are passionate about getting people into property ownership. So we're not going to put obstacles in your way.
Am I eligible? To find out, fill in the Contact Form and we will be in touch.
Am I better off just to wait? Feel free. But if house prices go up, you could be left out in the cold.