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► On to the 2nd step of the property ladder
You might think that Joint Equity will only help you if you are a first time buyer, and that if you wanted to move home we would leave you high and dry? Well, if you have already read the other information on this site you should know better than that!
► Pack your bags, and your mortgage!
If you want to move home you can. You can sell your property or simply take your Joint Equity mortgage with you, on exactly the same basis as if you were buying with us for the first time.
The limits on purchasing are the same (you have to buy at least 25% of the property), and you still get to choose exactly the property you want.
Joint Equity does have some simple legal conditions which you will receive as part of your application pack and should read carefully, but these are fairly straightforward and there to protect you and your Investor Partner.
For example as you and your investor are Partners you both agree, which is a condition in the Partner’s Contract, that you will offer each other the option to buy out the other’s Share before offering it on the open market.
► Buy a bigger home or a higher %
If your circumstances change - maybe with the arrival of a baby, you might decide that you want to change your relationship with us when you move - maybe buying a higher or lower proportion of your home, or transferring to repayment or interest-only terms. If so, moving is the ideal time to make these changes, however you could do so at any time, just as it was when you originally bought with us!
What still applies is the minimum tie-in of 2 years & the Joint Equity Partners Contract - but you’ll be familiar with them by the time you get this far.
In this section:
► Always do the maths
Don't forget you’ll need to do your sums again (ask for an Illustration for your new home), and you can always ask advice from our Mortgage Brokers at anytime.
When you move home with Joint Equity you have access to all of our support services, advice providers and the Partners Network from the moment you start thinking about moving, and that's a very nice and secure feeling to have.
Of course, you don’t have to stay with Joint Equity, but we would like you to.
The Joint Equity Scheme is for first-time buyers, home owners and property investors. This site is developed and maintained by Joint Equity ltd. ©Joint Equity (2006)
Joint Equity Ltd works with Mortgage Beaters Ltd to provide case studies & Illustrations to prospective Owner-Partners & Investor-Partners. Joint Equity Ltd does not carry out any regulated activities and so is not regulated by the FSA (Financial Services Authority). Joint Equity Ltd are introducer appointed representatives of Mortgage Beaters Ltd, which are authorised and regulated by the Financial Services Authority.
The content of this website is accurate to the best of our knowledge and for information only. We do not provide financial advice.
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Info Pack & Illustrations
Info Pack & Illustrations