Home Seller Finance (0% APR Representative)

Please click upon the following common questions for answers to your queries.

What is Home Seller Finance?

Answer:

Home Seller Finance is an interest free loan (0% APR Representative) to help people with the costs of selling a property.

The interest free loan helps to cover the cost of estate agent and legal fees.

How do I apply for the loan I am entitled to?

Answer:

Home Seller Finance is available through licensed, participating UK estate agents OR direct from ourselves by applying online.

To apply for your loan, contact the estate agent that you are selling your property through. The estate agent will refer you to us and we will take you through the rest of the application process.

Remember that the Home Seller Finance loan is subject to status.

My selling agent has not offered me Home Seller Finance - help!

Answer:

We are currently rolling the product out across a network of UK estate agents. Your selling agent may not have applied to become a licensed Look4aProperty Money estate agent or may be in the process of doing so.

Ask that, as a condition of you instructing the agent to sell your house, the agent needs to become a licensed Look4aProperty Money agent in order to help you cover the cost of their fees and legal fees associated with your sale. Alternatively you can apply for a loan online directly with us.

If the estate agent is unwilling to arrange the interest free loan then we recommend that you sell through an estate agent that will.

Who can apply for Home Seller Finance?

Answer:

The interest free loan, subject to credit approval, is available to anyone selling a property aross the UK.

To apply you will need to be over 18 and a UK resident.

What are the minimum and maximum amounts I can apply for?

Answer:

The minimum loan is £500. There is no maximum amount that you can apply for, subject to status. Terms and conditions apply.

The loan is designed to cover the cost of both estate agent and legal fees.

What is the charge for the credit?

Answer:

The loan is interest free and is repayable in equal, monthly instalments.

All repayments are made by monthly direct debit from your bank account.

What is the finance period?

Answer:

2 or 3 Years, you choose.

All you need to do is to let your estate agent know which term works best for you financially.

Why bother to take advantage of an interest free loan?

Answer:

We have always said that a healthy housing market is vital to the prosperity of the UK economy. If our £1bn initiative helps to kick start the housing market and restores some liquidity then everyone benefits.

By taking an interest free loan, funds that you may have used to pay estate agent and legal fees are available for other things, such as adding to your mortgage deposit resulting in you needing to borrow less. This could mean that your mortgage lender offers you a lower interest rate, potentially saving you thousands in mortgage interest.

You may also decide to put that mark on your new home sooner rather than later, perhaps by replacing an old bathroom or kitchen - the choice is yours.

Is lending more money at the moment, with the credit crunch, a bad idea?

Answer:

The UK economy needs someone to start lending again. It occurred to us that if that lending is directed towards people who will help kick-start the housing market then frankly that is a good thing for all of us.

If our £1bn initiative is used by home sellers and this leads to more people buying their dream property then real value can been delivered and restored to the UK Housing Market and wider economy.

We feel this is responsible lending at 0% interest. This is very different to the 125% LTV mortgages that have caused so many problems in the housing market and led to the current economic crisis.

How much money do you have to lend, is it really £1 billion?

Answer:

Yes, this really is a £1 billion pound initiative. If more funding is required then we can make it available.

A major financial institution is supporting this initiative. We are determined to help kick-start the UK housing market.

What has James Caan from Dragon's Den got to do with this?

Answer:

James Caan is the Chairman of Look4aProperty.com owning a 25% stake in the business.

You will see James on TV and in the national and local press in the coming months discussing this product and explaining exactly why we have decided to launch this fund.

I have applied for a loan but have some questions, who do I contact?

Answer:

Existing Look4aProperty Money Home Seller Finance customers can call us 0843 221 0616.

We are open Monday to Friday 8am until 8pm and Saturday 10am until 4pm.

I am an estate agent, how can I offer Home Seller Finance to my buyers?

Answer:

You can read more about the Home Seller Finance and the other benefits of joining Look4aProperty.com in the agent area.

To register with us please send us an email here and we will get back to you shortly.