First Time Buyers - Keep the Equity in your new home
Eliminating the horror of Negative Equity !
The New ‘Must Have” For First Time Buyers
Buying your first home can be a daunting prospect. Along with all the concerns over being able to afford the mortgage, choosing the property, decorating and insurance, one of the biggest concerns is the thought that you could get into the negative equity trap.
If you take out a Cenoption on your new home at time of purchase, you are effectively eliminating the chance of getting into the negative equity situation.
You would have to be in the property for at least 3 years before you could exercise the Option, however, if you wanted to move out sooner, you can assign the Option to the new buyer.
What this means is that you are shielding yourself against a fall in the housing market. If that happens and after the initial 3-year period you wish to move, you would simply exercise your Option to sell your property at the full value to the Option Provider. This is the Value as agreed with the provider at the time the Option Agreement was taken out.
If the property prices rise you are not obliged to exercise your Option and can sell your property on the open market and realise the growth in the equity.
All this gives you ultimate control and ultimate peace of mind knowing that you will never fall victims of the dreaded negative equity trap.
If you are interested in purchasing a Cenoption for your new home, go to our contact page, fill in the form and we will contact you with what you need to do.
*All prices exclude VAT unless otherwise stated*
