Paying For Your New Home
After you have paid your deposit (normally £1,000) as detailed in the reserving your new home section of our Home Buying Guide, you do not need to make any further payments to us until your date of entry.
On this day, the outstanding balance of the purchase price (including any optional extras) is transferred to us by your solicitor.
Mortgages
Although Hope Homes Scotland cannot provide you with a mortgage to buy your new home, we can provide you with details of an independent financial adviser who would be able to assist you with this. To find out more about what mortgage options would be available to you, contact
Andrew Thompson
01358 726236
www.city-financial.co.uk
Shared Equity
Our Shared Equity scheme is currently available on selected properties at Burns View, Tarbolton and Langdale Park, Ochiltree.
With our Shared Equity scheme you can own 100% of your home for 90% of the price*
You can move into your new home with Shared Equity* and a mortgage (subject to status) arranged for you by City Financial.
- You own 100% of your new home at a reduced price
- You pay no interest or rent on the outstanding balance
- You have up to 10 years to repay the outstanding balance
- Your home is 100% yours from day one
* All mortgage offers are subject to the status of the applicant.
Hope Homes Scotland Limited will provide a loan for the remaining 10% of the purchase price for up to 10 years, secured by a second charge over the property. The repayment sum will be the greater of the original 10% or 10% of the market value of the property at the time the property is sold, re-mortgaged or transferred. No interest is payable unless there is a default. Terms and conditions apply and full details will be provided upon request. This offer is subject to status and only available on selected properties.
Your home is at risk if you do not keep up payments on a mortgage or other loan secured on it. Be sure that you can afford the repayments before entering into a credit agreement. Hope Homes Scotland Ltd are appointed introducers to independent advisors City Financial and all loan agreements must be made through them.
