For example, if you had £30,000 to put down on a property, you could buy a home with HOP for £300,000, with HOP’s investors contributing the balance of £270,000.
In Year 1, your annual HOP Payment would be 5% of this balance: £13,500, or £1,125 monthly.
Each year, the HOP Payment would increase by 0.5% above the Retail Price Index. So, If the RPI is 2.5% in Year 2, the HOP increase would be 3%, and your monthly HOP Payment for the second year would increase by £33 to £1,158 per month.
|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