Your monthly payment is made up of two parts:
Rent on our share of the property. On the part of the property that we still own, you will need to pay a monthly rent based on a Rental Rate. The way this Rental Rate is calculated and set will be explained in your offer before you proceed with StrideUp.
Acquisition payments. Every month part of your payment goes towards buying a further slice of the property - this way your ownership percentage is always increasing and StrideUp's is decreasing.
Example Rent Calculation
Let's say you buy a £250,000 property by getting a £200,000 Home Purchase Plan from us with a rental rate of 6.99%. You would have to pay £200,000 x 6.99% / 12 = £1,165 per month in Rent.
Example Acquisition Calculation
We would figure out the amount of monthly Acquisition payments so that by the end of the term you'll end up owning the home outright.
Our rates change frequently, please apply to find out our current best rate for your circumstances.