Match and Move from Lovell
Match and Move from Lovell
We’ll match your deposit with an interest free loan*! It means you can move fast - and have enough cash left to turn your new house into a home. When is enough not quite enough? It’s when you’ve saved hard, got together some cash - but it’s not quite enough to pay the deposit that gets you the best mortgage deal on a home. Perhaps you’re still saving, but have seen the Lovell home you want and would like to move quickly. Or maybe you can afford the whole deposit but want to hold something back for the comforts of home - new carpets, curtains or that dream garden to enjoy.
Whether you’re first-time buyers or have just sold your existing home, Lovell will help by matching your deposit of up to 10% of the purchase price with an interest-free, 10-year loan (making a combined total of 20%). If it’s your first home, you can have peace of mind knowing that Match and Move is giving you a helping hand with a no-fuss move into your chosen Lovell home. We know that it hasn’t been easy for existing home owners either - some people may even face negative equity. If this sounds like you, Match and Move can help you keep some of your savings intact while allowing you to move earlier.
So if you think you don’t have quite enough for your deposit AND the other costs associated with buying your home - talk to us. With Match and Move, just enough might be plenty.
Any questions? We’ve got the answers!
How much can I borrow?
Will I still own 100% of my property if I accept the loan?
Q A Q A
When will I need to pay my deposit?
For example If you have saved a deposit of £7,500 and wish to purchase a Lovell property costing £150,000, Lovell will match your deposit and lend you £7,500. This will give you a total deposit of £15,000 meaning a lower mortgage of only £135,000.
0% APR Typical
We will match your deposit of between 5% and 10% (making a combined total of up to 20%) on the price of your new Lovell home.
Yes - you will be the sole owner of your Lovell home, subject to any mortgage.
Only when you exchange contracts on your new Lovell home. How do I pay the loan back? You can pay the loan back at any time within the 10 year period (by up to three instalments) or at the end of the 10 years. If you sell or re-mortgage your Lovell home within the 10 year period you must repay the loan. If the loan is not repaid within the agreed term interest will be charged at 2% above the Bank of England base rate.
How can I find out if I can afford Match and Move?
Can I use the Match & move loan scheme for a ‘Buy to Let’ property?
Sorry, no - this scheme is not open to investors.
Your sales advisor will pass your details onto one of our recommended Independent Financial Advisors who will contact you to advise the best mortgage rate/package for you.
* The scheme is available on selected Lovell properties up to £250,000 subject to status, terms and conditions. The loan will be secured by way of second legal mortgage on the property. Lovell Partnerships Limited cannot give you any financial advice. A commitment fee of £500 is payable on reservation but is fully refunded on legal completion. Cancellation of your reservation may result in losing part or all of your commitment fee. If you do not repay your loan within the agreed term interest will be charged at 2% above Bank Of England base rate. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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