Shared Equity Mortgages
If you have one of these you ought to be aware of the following:- Since the mid 2000’s a number of New Home developers offered shared equity schemes (SEM’s), which meant the developer lent you a percentage of the value of the new home, typically 15%-40% max, normally for a 10-year period. At the end of this term the percentage owed to your builder, contractually must be repaid, based on the current value.
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