Shared Equity Home

With shared equity you own 100% of your home as soon as you purchase the house.

On purchase you pay 75% of the value of the home.  You pay a deposit and get a mortgage as you need on that amount.

Hellens Residential then lends you the remaining 25% for 10 years. There is no rent to pay during the 10 year period.  This gives you time to save to pay off the loan.

The shared equity loan is payable after the following events: –

• The tenth anniversary of the charge
• The sale of the property
• Seven days from notice by the borrower to the lender of their wish to pay back their charge
• The redemption of the main mortgage
• 12 months following the death of the borrower
• If the borrower fails to adhere to any covenants in the second charge agreement.

If you would like any further information on shared equity properties then please contact us.