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► Click here for our Owners area where you can do your own Illustrations online. It’s easy and totally free
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Buying for Parents & Guardians
► Do you want to help a loved one buy their own home?
You might have thought you were not in a position to help, but with Joint Equity you probably are.
You can become the Investor for your loved one. Joint Equity allows you to help them buy a home, whilst managing the relationship and protecting both your interests.
► You can put up both deposits!
As the Parent or Guardian of a new Joint Equity Owner, we will allow you to contribute all of the Investors and Owners deposit.
This is a unique opportunity, based on your relationship with your owner, and not available to other Joint Equity Partners.
► You could decide to help even more, by not requiring the rent portion to be paid.
You can do this whether you are a cash or mortgage Investor
Of course, if you are a mortgaged Investor, you will have to pay your share of the mortgage payments to the lender.
Also, you will have to pay a small management charge to Joint Equity (see typical costs).
► Why can’t I just lend them the money?
There’s no reason why you couldn’t lend the money to your aspiring Owner, however there are a few things to consider:
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Families often fall out over money. It’s sad but true. However, with Joint Equity you have a formal contract that protects both your interests, and clearly sets out what benefits accrue to both parties, the procedure in event of a sale, etc. In essence, it’s peace of mind.
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Your aspiring Owner may be uncomfortable accepting a ‘charity’ hand-
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You have to consider the worst case scenario – that your Owner fails to pay their rent & mortgage payment. Without the security provided by Joint Equity, this can be a difficult situation to overcome.
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Your Owner-
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The Joint Equity Scheme is more formal than acting as a Guarantor for the mortgage.
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You and the Owner-
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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.
