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Updated: 20/03/2008 16:41:06
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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, 2007 & 2008)
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.

► Why should I be interested in Joint Equity?

Joint Equity provides Lenders with a number of benefits that existing lending streams cannot:

• A new market sector with limited competition

• An assured forward stream of mortgages

• Prime, full status applicants

• Improved security for Joint Equity loans

• Ethical lending criteria

 

► What is Joint Equity?

Joint Equity is the private funded version of the Government sponsored shared home and is designed to help First Time Buyers buy between 50 and 75% of their own home when they are unable to get a mortgage directly. Unlike some of the Government schemes, Joint Equity does not require lenders to take a stake in the property being purchased.

N.B. It is also important to understand we are not an equity release or sale and leaseback product.

Joint Equity is an alternative option to renting for people who cannot get their own mortgage, and do not fit with the Government shared home ownership restricted availability.

► What is a Joint Equity mortgage?

Our business model does not require a new lending product but a new combination of existing products:

• Owner-occupier

The Owner-Partner 50% share could be considered as traditional owner-occupier.

• Buy with a friend

As both Partners are mortgagees and are 100% jointly and severally liable they can be considered as traditional unrelated joint-owners with one non resident.

• Buy-to-let

The Investor-Partner 50% share could be considered as Buy-to-Let.

• Guarantor

The Investor-Partner 50% share could be considered a Guarantor mortgage.

► How does a Joint Equity purchase work?

In the Joint Equity model an Owner-Partner (resident) and Investor-Partner (non-resident) join together to buy a property with a single mortgage. Both Partners are jointly and severally liable and buy the property as Tenants in Common.  

The Lender has an unencumbered First Charge Mortgage Deed, which is as per a standard mortgage deed. Some lenders may possibly require a change to reflect the non-resident status of the Investor-Partner.

 

► How is the Owner/Investor relationship regulated?

The relationship is governed by the Joint Equity Partner’s Contract which supports the Lenders first charge and mortgage deed. More

This sub-domain is linked to the main Joint Equity website. Click here for more
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Where Joint Equity fits in the range of home ownership options