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► Shared Costs
As with any property purchase there are a number of costs involved when purchasing a Joint Equity home.
Some costs are shared between both Partners, according to the ratio of ownership, and some are borne by the Owner-Partner only and there are some Investor only costs.
The shared costs include property purchase legal fees, land registry fees and stamp duty. Buildings insurance (commonly known as ‘bricks and mortar’) is also a shared cost.
► Owner-only costs
Owner only costs (which are not shared) include personal legal advice, removal costs, contents insurance, decoration and general property maintenance costs.
Joint Equity does not charge any fees to the Owner-Partner however, there is a refundable Commitment Deposit required before funding is applied for.
► Investor-only costs
There are a number of costs that are particular to the Investor and not shared with the Owner-Partner including personal legal advice and Joint Equity investor fees. There are a number of other costs such as portfolio and property revaluation costs which are paid when required
► Investor fees
There are a number of fees that the Investor pays to Joint Equity Ltd;
Investor-Partner annual registration fee – this provides access to our secure Investor-Partners section. Only registered Investor-Partners are provided with Investment reports and only registered Investor-Partners can reserve investments.
The annual Registration fee is payable in advance on 31st January each year. Investors joining during the year pay a pro-rata amount based on month of joining.
Reservation Commitment Deposit - depending on the status of the investment a refundable Commitment Deposit is paid to reserve an investment. See reserving for details.
Purchase Completion fee – on completion of the purchase a fee of 1% of the total purchase cost, subject to a minimum fee of £1,500, is payable (less the Commitment Deposit) .
► Investor fees con’t
Management fee – Joint Equity collects the Investment Return monthly from the Owner-Partner and pays it into the Investor-Partner’s bank account less 5% management fee.
Sales fee – on selling their Share the Investor-Partner pays a 1% fee on the value of thier share of the property, subject to a minimum fee of £750.
All Investor and Owner-Partner fees are clearly set out in our Information Pack which we advise you to read carefully.
► In this section:
The Joint Equity Scheme & Investing
The Joint Equity Scheme & Investing
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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