- What we will do:
- We will not advise on VAL FREE® Home Purchase Plans (HPPs) or on VAL FREE® mortgages.
- We will only act as a “signpost” to providers of HPPs and to brokers for mortgages.
- We will not advertise provider, broker or lender financial services and do not take or pay fees or commissions.
- We will not use a robot to answer your questions (please Contact Us to talk to a senior member of staff).
- Selling:
- If you (the SELLER) are selling your house (and have not taken our finance) Your Agent can suggest prospective buyers contact VAL FREE® Brokers (mortgages and home finance).
- If your buyer has VAL FREE® they can make you an offer knowing they can quickly exchange with a Transferable Mortgage (a bonus when your BUYER wants to sell).
- Buying:
- If you (the BUYER) are buying a house we are selling (because the seller has taken our finance) your agent can suggest you contact VAL FREE® Brokers
- We pay the Transcription Fee so you (the BUYER) can have our DataSource valuation transcribed onto your chosen VAL FREE® mortgage lenders or home finance providers paper (our valuation must be addressed to them / in their name).
- You will not be Guzumped
- What is a Home Purchase Plan?
- A Home Purchase Plan (HPP) is an Islamic Mortgage.
- Islamic providers of HPPs are authorised and regulated by the Financial Conduct Authority (FCA).
- Anyone can apply for an HPP.
- An HPP is an interest-free alternative way to buy your house.
- With an HPP you buy your house jointly with an Islamic bank or Home Finance Provider.
- You make monthly payments (effectively “rent”) instead of paying interest.
- You fund the deposit and the bank funds the rest of the purchase price.
- When you have made all your monthly payments, you acquire the property and the deed of the property transfers to you.
- You are free to sell the property at any time during the agreement and any profit made on the sale is all yours.
- Where can I get a Home Purchase Plan?
- At VAL FREE® Brokers you will see a selection of providers.
- What is a DataSource valuation?
- An automated valuation model (AVM) uses a machine-learning algorithm to compare your home against a dataset of other homes to estimate its value.
- An AVM uses a wide array of publicly-available and user-sourced data, such as property type, size, general location, and comparable property sales with mathematical / statistical modelling to provide an immediate value.
- Our DataSource valuations (AVM’s) are provided by Rightmove and fall within RICS guidelines for finance purposes.
- Will my broker see the valuation?
- Your broker will access through our Management Portal, our DataSource Valuation of the house you are selling.
- Why do you use brokers?
- Because brokers can offer you exclusive deals that will not be available to you if you go directly to the lender.
- VAL FREE® mortgages are only available from mortgage brokers. See: VAL FREE® Brokers