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We have answered many common Joint Equity Scheme questions here, however we might not have covered a specific query of yours. If so, please email us.
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Is my investment protected?
Your investment has the same protection as a traditional mortgage providing you pay the mortgage amount and the rent contributions on time.
Your investment has the same protection as a traditional mortgage providing you pay the mortgage amount and the rent contributions on time.
What about moving house?
JointEquity homeownership does not mean that you’re tied to one location or house. You can move house whenever you wish and Joint Equity will move with you. Remember though that there are penalties to pay if you make alterations to your contract (including by moving house) within the first 2 years.
JointEquity homeownership does not mean that you’re tied to one location or house. You can move house whenever you wish and Joint Equity will move with you. Remember though that there are penalties to pay if you make alterations to your contract (including by moving house) within the first 2 years.
What happens if I need to break my contract if my job moves for example?
Your contract with JointEquity Investment Partner has been specially designed to protect you and your Investor-Partner, it’s simple and very fair.
If you need to move because of personal reasons within 2 years you will incur penalties.
Your contract with JointEquity Investment Partner has been specially designed to protect you and your Investor-
If you need to move because of personal reasons within 2 years you will incur penalties.
Are there any restrictions on who can apply?
Almost anyone can apply to become a JointEquity Owner-Partner however, the JointEquity Scheme might not be the right route for property ownership for everyone (see here for more information). You have to be a UK resident, and you have to be able to pay your proportion of the deposit and your legal fees. You also have to be able to make your repayments. We don’t mind how you do this though, and will take into account income from renting out a room or two in your home, for example.
Almost anyone can apply to become a JointEquity Owner-
What if I have an adverse credit history?
Updated April 2008
Updated April 2008
Many people today have what we think of as ‘adverse credit’. JointEquity understands that this doesn’t necessarily mean you can’t or won’t keep up payments on your home!
We have to address each person’s case on their individual merits, and as each lender has a different definition of adverse credit, please discuss your personal situation with your Joint Equity Mortgage Advisor who will be able to tell you what we can and cannot do for you.
We have to address each person’s case on their individual merits, and as each lender has a different definition of adverse credit, please discuss your personal situation with your Joint Equity Mortgage Advisor who will be able to tell you what we can and cannot do for you.
Remember you might have to pay a slightly higher interest rate.
When completing the Owner Enquiry form please be as open and honest about your credit history as possible as it will only come out when the mortgage lender does a deep credit reference search.
Are there any restrictions on where I can buy my house?
There are no restrictions on where you can buy your home, as long as it’s in the UK. The only thing you need to think about is that, as JointEquity scheme ties you in for 2 years, you need to be living in the kind of property that you will want to stay in for some time, and it must be in the right location for you – unless you want to pay our early-mover penalty fees.
There are no restrictions on where you can buy your home, as long as it’s in the UK. The only thing you need to think about is that, as JointEquity scheme ties you in for 2 years, you need to be living in the kind of property that you will want to stay in for some time, and it must be in the right location for you – unless you want to pay our early-
I have been thinking about buying a property with a friend/family member – can I still do this with JointEquity?
The short answer is 'Yes, but!'.
If the friend is resident in your home you will be 'joint-owners' with each other, and with 'tenants in common' your Investor Partner.
Alternatively if your family member is not resident they could be your JointEquity Investor-Partner!
The short answer is 'Yes, but!'.
If the friend is resident in your home you will be 'joint-
Alternatively if your family member is not resident they could be your JointEquity Investor-
We are a couple, and we would like to buy with JointEquity in both our names. We’re not going to have equal shares though – how would that work?
You can buy through the JointEquity Scheme. Decide what each equity share is and you are considered as 'tenants in common'. The rest is the normal JointEquity scheme.
Simple, really!
You can buy through the JointEquity Scheme. Decide what each equity share is and you are considered as 'tenants in common'. The rest is the normal JointEquity scheme.
Simple, really!
I still have lots of questions – can I talk to someone about JointEquity?
We do not operate expensive call centres but you can email us, we will usually repond well within 24 hours(our TPF target), or you can write if you really want to. Go to our contacts page to find our details. You can also speak to your Joint Equity Mortgage Advisor or Estate Agent Partner.
We do not operate expensive call centres but you can email us, we will usually repond well within 24 hours(our TPF target), or you can write if you really want to. Go to our contacts page to find our details. You can also speak to your Joint Equity Mortgage Advisor or Estate Agent Partner.
However, this site contains a lot of information, and you might want to have a thorough read through what’s available here before emailing your questions to Joint Equity.
If I have to make an insurance claim associated with my JointEquity home, will all the insurance money come to me?
Yes - if you are making a contents claim. However, if you are making a buildings insurance claim, there are conditions which require you to carry out all reinstatements or repairs with the money provided.
Yes -
I like my Investor-Partner, can I move their investment with me?
Yes, however the Investor-Partner does not have to and may decide to move their investment somewhere else.
Yes, however the Investor-
Are there any independent investors you know of which invest in this scheme and if so, please could you forward their details?
The Info Pack should answer your question, but the answer in essence is we have Investor Partners waiting to join you and we do the introductions.
Once you decide you might like to buy a home with Joint Equity you save the property and Illustration and hit the <Make Application> button. That tells us that you would like to proceed we will circulate your requirements and property details to our Investor Partners as a Provisional Investment.
Our Investor-Partners are interested in you and the property and we can take a primary reservation and 2 secondary reservations for each Owner-Partner.
How much can I invest?
There is no upper limit and the percentage of your share you borrow from the mortgage company is up to you.
There is no upper limit and the percentage of your share you borrow from the mortgage company is up to you.
What is my minimum investment?
Our minimum investment is 15% of your ownership share. In real terms the minimum cash contribution for your part of the deposit and fees is between £8,000 and £10,000. This will buy you a single 50% investment in an average property of £150,000.
Our minimum investment is 15% of your ownership share. In real terms the minimum cash contribution for your part of the deposit and fees is between £8,000 and £10,000. This will buy you a single 50% investment in an average property of £150,000.
How can I get my money out?
This is a medium to long term investment and you should be prepared to lock in for 3 to 7 years. You can exit from the scheme when either of the following happens :
1 : your Owner-Partner wants to move
This is a medium to long term investment and you should be prepared to lock in for 3 to 7 years. You can exit from the scheme when either of the following happens :
1 : your Owner-
2 : you sell your investment to another JES Investor Partner
3 : your Owner-Partner buys-out your investment stake in their home
I like my Owner-Partner, can I move my investment with them?
Yes, however the Owner-Partner will decide the level of support they require for the next property so it will be their choice.
Yes, however the Owner-
My Owner-Partner wants to sell but I am not sure now is the right time. What can I do?
You have the option to buy your Owner out rather than sell in the open market. We can then find you another Owner-Partner or you can withdraw the property from the JES.
You have the option to buy your Owner out rather than sell in the open market. We can then find you another Owner-
How is my investment protected?
The property is purchased in joint names of you and the Owner. There is a first charge for the mortgage company and the security is the same for any UK property bought as Tennants in Common.
The property is purchased in joint names of you and the Owner. There is a first charge for the mortgage company and the security is the same for any UK property bought as Tennants in Common.
What happens if my Owner-Partner does not pay me the rent portion?
The contract between you and the Owner-Partner is clear on the responsibilities of both parties and what happens if there is a breach. In this case the Owner has a short but reasonable and fair period to get the account back in order or we can force a sale to clear the debts.
The contract between you and the Owner-
My Owner and I have a disagreement how can we resolve it?
In this unlikely event Joint Equity will try and seek a mutually acceptable resolution.
In this unlikely event Joint Equity will try and seek a mutually acceptable resolution.
What happens if my Owner does not agree with your solution how can we resolve it?
The Partner’s Contract has a full dispute process which resolve all disputes eventually.
Will I be able to inspect my property?
No - the Owner is just that and has all the rights of ownership. You are not a landlord you are investing in them with the added security of a charge on the asset.
No -
Are you linked to a Regular Savings Scheme?
Not at present but we are working on this with several lenders. Register as an Investor and be one of the first to find out when we do launch.
Not at present but we are working on this with several lenders. Register as an Investor and be one of the first to find out when we do launch.
► What’s in this section?
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.