HIP Finance from Close Payment services lets Your Customer purchase their HIP NOW and pay for it when they sell their property or within 9 months of the inception of the HIP, whichever is sooner

The Benefits to You and your Customer

  • Only a few simple questions.
  • Immediate decision (expected approval for 95%+ of applicants).
  • No further action from you is required.
  • Low cost.
  • You can market the property safe in the knowledge the HIP has been paid for.

How Does it Work?

  1. Your customer answers a few simple questions.
  2. You will receive an immediate decision.
  3. Surehome print the necessary forms and send these to your customer.
  4. Your customer then checks and signs the loan forms.
  5. They return these to either Surehome or CPS.
  6. When completed forms are received CPS will pay your HIP provider directly.
  7. If the property sells within 9 months the solicitor will repay the loan directly from the sales proceeds, either by BACS or cheque.
  8. If the property has not sold within 9 months
    • CPS will collect the payment from the seller's bank account by direct debit. A letter will be sent to the seller 7 days prior to the payment to remind them of this agreement. A letter will also be sent to the solicitor informing him to cancel the irrevocable authority.

CPS offers a low cost option. Your customer will be charged:-

  1. An upfront facility fee of £30.00
  2. An interest charge of 11.50% will be added to the cost of the HIP

Important Notes

  • The sellers solicitors details must be provided to CPS no later than 15 working days before their Direct Debit is due or an administration fee of £35.00 will be charged
  • The sellers bank account details for direct debit purposes will need to be obtained along with their credit/debit card details
  • At least two phone numbers will be required for the seller
  • The name and signature on the Funding Agreement must be the same and must be the name, or one of the two names, on the credit/debit card
  • CPS reserve the right to carry out a Personal Credit Search
  • The seller has the right to cancel the funding within 14 days. In this event, CPS will collect a £35.00 cancellation charge
  • In the event of a default, a fee of £35.00 will be debited to the account and will be payable by the seller
  • If the seller takes the property off the market, they will be required to notify CPS immediately
  • For full financial terms and Conditions please contact Surehome

Terms & Conditions      |      Complaints Procedure