Shared Equity

Shared Equity Terms and Conditions:

1. Offers for you to pay a percentage (75%) of you new home initially are based on you paying that percentage of the agreed price at the time of completion
2. The remaining percentage (25%) of the purchase price becomes a second charge on your house in favour of Shepherd Homes Ltd.
3. You can repay the second charge loan at any time within 10 years of completion. This can be done either when you sell or transfer the property to a third party in the future or at the end of 10 years from the date of legal completion, whichever is sooner. Any valuation will be calculated based on the valuations by two independent estate agents appointed by Shepherd Homes.
4. The second loan must be repaid within 10 years of completion whether the property is sold or not.
5. The second charge will be payable on the basis of the price of your property at the time of future sale or transfer as opposed to the original purchase price. This means that whether your property increases or decreases in value, you will only be liable for the same percentage of the value of your home at the time of future sale or transfer (25%) or at the end of the 10 year period from legal completion if you choose not to sell.
6. You will not be liable to pay back any money made on the basis of home improvements (e.g. the addition of a conservatory or loft extension) insofar as it may affect the value of your home. The valuations will be based on the value of the home as constructed at the time of purchase, based on reasonable maintenance and wear and tear.
7. This offer is available on selected plots and developments subject to availability.
8. This offer is not available to purchasers who will be purchasing on a ‘buy to let’ basis.
9. Valuation decisions made by independent valuers are final.
10. Lender’s security requirements may vary.

Any promoted Shepherd Homes offer is subject to contract and status. The offers advertised cannot be used in conjunction with any other offer on the same plot unless expressly stated otherwise. Prices and details are correct at time of writing. Please contact the development in which you are interested for further details.

Shepherd Homes reserve the right to withdraw or alter any of these offers at any time prior to the payment of a reservation fee. The current specific offers being advertised in relation to selected Shepherd Homes developments are also subject to these terms and conditions (please note that these offers may vary from time to time and you should refer to current advertisements to discover which offers are available on certain plots and developments).

These terms and conditions do not affect your statutory rights.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH REPAYMENTS ON YOUR MORTGAGE.