You can live where you want, for as long as you want. If the home you choose is a sound prospect, HOP 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 will invest up to 6 times your income.
You only need to have saved 10% of the property’s value in order to buy it with HOP.
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 as you wish.
You put in at least 10% of the purchase price, so on day one your share in the growth is 10%. The next year you get an extra 25% from the entire home’s value growth, not just your share. In following years you get an extra 2% of the growth. This is all on top of your 10%!
You can buy a larger share of the property any time you want, 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 shares in the value loss too, in proportion to the share it holds of the property.