Low cost finance, giving sellers affordable payment options
A major concern for many estate agents is the financing of Home Information Packs, knowing that expenses such as searches and energy reports have to be paid for in advance. While some vendors may be prepared to bear these costs up front, in many cases estate agents will be faced with having to finance the costs themselves and will only be recompensed when the property sells. This will almost certainly have a negative effect on cash flow, particularly if the property does not sell quickly.
Surehome offers a low-cost financing facility that gives sellers a loan to cover the costs of their pack in advance. This means that payment for all the essential elements of the pack, including the cost of any insurances, will be made within seven days.
There is no need for the seller to repay anything for eight months. During that period, the property should sell and the proceeds will repay the outstanding loan as part of the settlement process. If the property does not sell within eight months, the seller can choose to repay the costs over the following 12 months or until the property is sold if sooner.
The credit application is carried out by the estate agent online and credit is usually approved within minutes. The interest rate paid by the seller is equivalent to, or lower than a standard credit card charge over the same period.