The smarter way to own the home you want when you can’t get the mortgage you need
|Enter your annual household earnings|
|You could buy a property valued at||£333,333|
|You will contribute||£33,333|
|HOP will contribute||£270,000|
|Your HOP monthly payment in Year 1*||£1,250|
|Your HOP monthly payment in Year 2*||£1,288|
*Year 1 payment is 5% of the HOP Partners’ contribution. Monthly payments then increase each year in line with inflation, using the Retail Price Index (RPI), plus 0.5%. Example in calculator uses 2.5% RPI. HOP caps these payments to never increase more than 5%, however high the inflation rate. The calculator is indicative only. It does not factor in your individual circumstances, expenditure, property details or your credit worthiness.
Not all applicants will be accepted. HOP is a long term co-investment in property and may not be suitable for you. Your home may be at risk if you do not keep up your monthly payments or abide by the terms of the agreement which will be explained to you by your solicitor. The terms and conditions applicable to you will be made clear at the outset of your business relationship with HOP.
You can live where you want, for as long as you want. If the home you choose is a sound prospect, HOP’s investors will buy it alongside you.
If you can’t get a big enough mortgage or a mortgage at all, despite having a deposit and enough income to meet payments, HOP’s investors will invest up to six times your income.
You only need to have saved 10% of the property’s value in order to buy it with HOP’s investors.
Your HOP Payment could be less than it would cost to rent the very same home.
Unlike renting, you are free to decorate and improve your home.
Example: After ten years, your share of the increase in value will be 51%.
So if your £300,000 home increased in value by £100,000 and you decided to sell, you would receive £51,000 being your share of growth.
You can buy a larger share of the property all the way up to 100%. The larger your share, the lower your HOP Payments will be.
You are free to sell at any time and will benefit from an increase in the value of the whole home, not just your share.
Should the value of the home decrease over the time that you live there, HOP investor’s shares in the value loss too.