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► What will my Joint Equity home cost me?
The costs involved in the Joint Equity Scheme are very clear and transparent, and are effectively the same as those with any property purchase or sale. The following table will help demonstrate who pays what and when.
► How are costs split between Owner & Investor?
The responsibility for costs and the level of contribution will depend on what the costs are for and the value of equity share. For example, in a 50/50 share the purchase legal fees would shared 50% each, but in a 75/25 share the Owner-Partner is responsible for 75% and the Investor-Partner 25% of the legal fees.
But in both cases the removal costs are totally the responsibility of the Owner-Partner.
See our case study for an illustration of this cost breakdown. If you have a specific query about costs please contact us.
Typical Joint Equity Partner Costs
Amount
Owner-
Partner
Investor-
Partner
Buying
Estate agent
O
O
Legal fees
P
P
Stamp duty
Up to £120k =0%
£120k - £250k =1%
Over £250k = 3%
P
P
Removal costs
P
O
Joint Equity investment fee
1%
O
P
Owning
Services (gas, electric etc)
P
O
Maintenance
P
O
Contents insurance
P
O
Buildings insurance
P
P
Joint Equity management fee
5% of rent
O
P
Selling
Estate agent
1.5% - 3%
P
P
Legal fees
P
P
Sellers pack
P
P
Joint Equity sales fee
1%
P
P
Removal costs
P
O
► 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 ( 2007, 2008, 2009, 2010) 2011
Joint Equity Ltd works with City Mortgage Bureau 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
City Mortgage Bureau 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.