bpha equity loan

If you are thinking about remortgaging your home to a new lender, or borrowing more money secured against your home, your solicitor will need to get in touch with Fi-Nest Ltd. They will carry out admin tasks as part of your request, which will allow your lender to register their charge against your home.

If you are adding or removing a person to or from your equity loan at the same time as remortgaging, please read the section below on transferring equity.

Adding or removing a person to your mortgage is known as a ‘transfer of equity’. You’ll need to ask a solicitor to act for you and carry out the legal admin. Your solicitor will work directly with Fi-Nest, so please provide their contact information to Fi-Nest.

You don’t need bpha’s permission to place your home on the market, but when you have accepted an offer, you’ll need to ask your solicitor to contact Fi-Nest. Loan agreements will be different depending on the product you have, and what you need to provide when selling will depend on your agreement. For example, some loan agreements will need you to get a Royal Institute of Chartered Surveyors (RICS) valuation report to calculate your redemption sum.

Fi-Nest will provide your solicitor with a Redemption Statement, and your loan will be redeemed (repaid) on completion via the proceeds of sale.

When you’re ready to redeem (or repay) your equity loan, you will need a Redemption Statement from Fi-Nest. This shows the amount of loan due, including any arrears, additional fees or charges on your account.   

Fi-Nest may need more information from you before calculating the redemption amount. They will get this information from your solicitor so please provide your solicitor with their contact information.

If you would like an estimated value of your equity loan please contact Fi-Nest and they will give you an idea of the sum you’ll need. Some customers choose to do this before speaking to their bank about the level of funds needed to repay the equity loan.

You should think about how making improvements to your home will impact your equity loan.

Some changes are considered cosmetic or general maintenance, but improvements can alter the property value. Please contact Fi-Nest who can let you know what you need, to make sure any improvements can be taken into consideration when redeeming your loan.

If you have changed your name please contact Fi-Nest, providing them with the legal paperwork (marriage/divorce certificate, or deed poll) as evidence so they can update their records. You can send a copy in the post, or by email.

There are certain restrictions which are set out in your loan terms and conditions (see your loan agreement or ask Fi-Nest for a copy) as to what you can do with the property.   

The loan was provided to you on the basis that you are the owner-occupier, and you’re not allowed to sublet the property. If you have questions about this part of the loan terms and conditions, or to discuss your particular situation, please contact them using the details below.

If you’re experiencing or expect to experience financial difficulties, for whatever reason, support is available. Please contact Fi-Nest as early as possible to look at ways they can support you.

In some cases, they may need to ask you for details of your household income and expenditure. This is part of their assessment to make sure the support offered is suitable for your situation. 

Any support received from Fi-Nest will not affect your credit score.

Our Money Advice service also provides free and impartial help to anyone looking to improve their financial situation.

For any questions about your equity loan, or any of the processes mentioned above, please contact Fi-Nest using the methods below. 

They can also speak to an appointed representative, on your behalf and with your consent, instead. This could be a friend or relative, or another professional representative.

Tel: 01590 670 226 (9am to 5pm Monday to Friday, exc. Bank holidays)

Email: sharedequity@fi-nest.co.uk

Postal address: Fi-Nest Ltd, Efford Park, Milford Road, Lymington SO41 9GB