Scenario: You have saved a 10% deposit and can't wait to get on the property ladder.
Problem: 10% is not enough. Half a ladder is worse than none at all. You need at least 20%, preferably 25%, to be eligible for a mortgage that isn't priced through the roof. As in so many areas of life, "Cash is king".
Solution: We will provide the cash you need, on a fast turnaround. So if you want say another 15% to put together a great buying package, we'll be delighted to assist (on suitable terms, of course).
How it works: Our cash buys a share in the property. Then when the property is sold, you redeem our share and keep the rest. It's as simple as that.
Is there a catch? Well, we do ask for a rent on our part (after all, you're the one occupying the property), and for you to think about buying us out inside 5 years. But that's OK, because you're growing equity and can use it to refinance 5 years down the road. When you ask us for a quote, we'll show how it's done.
Am I eligible? All that's necessary is that you qualify for a 75% mortgage. If it's good enough for a mortgage lender, it's good enough for us. Let us put you in touch with a mortgage adviser who will confirm straight away whether you fit the scheme.
What does it cost? Try the calculator opposite and find out. The good news is that our scheme is a lot cheaper than a normal 90% mortgage, and you grow equity faster.
Am I better off just to wait? Feel free. But if house prices go up, you could be left out in the cold.
What do I do next? Contact us with your requirements, and we'll see whether we can match them.