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Sell & Buy Back
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Would you like to release the equity in your property, but remain in your home?
The Sell and Buy Back Option gives you the right to buy back your property in the future at a fixed price. We would normally set the option to run between 3 and 5 years, but this depends on your personal situation.
A typical option would have a repurchase price on the property of 15% above the price that we originally paid.
Example:
Your property is worth £150,000.
You decide to sell your home to us for £110,000. This clears your mortgage and debts and allows you to make a fresh start.
After 5 years you decide to buy your property back and assuming that house prices have increased on average by 5% per year. Your property now has a market value of £187,500 The amazing thing is that you still have the right to buy the property at £126,000, (£110,00 + 15%).
In this example the £40,000 of equity apparently lost initially when you sold your property to us originally, is recovered when you buy your property back. You have recovered your lost equity and acquired an additional £21,000.
This option allows you to remain as a tenant and when your situation improves purchase the property back at the agreed price.
You are NOT obliged to exercise your option to buy the property back.
The cheaper you sell your property to us, the cheaper it is to buy back.
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