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The Home Agreement

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Application β†’ All guides

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A - Z of Application criteria
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Deposit sources
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Interest
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Age
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Applicants
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Boosters
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Commitments & Expenditure
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Customer Verification
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Dependants
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Expat
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First-Time Buyer
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Home Movers
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Non UK Nationals
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Owners
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Retirement
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A - Z of Property types
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A - Z of Purchasing schemes
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Bedroom count
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Current value
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Leasehold
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Address verification
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Identification
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Generation Home Products and Services β†’ All guides

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The Home Agreement
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ILA
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Terms of Business
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Privacy notice

The Home Agreement

The Generation Home Agreement is our version of a deed of trust. It provides robust legal protection to each individual borrower throughout the term of their Generation Home mortgage.

It is a legal document to protect everyone's financial interests whether you're buying, owning and/or selling together.

What makes the Generation Home Agreement different?

If you like the idea of having individual shares in the property (tenants in common), Generation Home offers a unique feature.

The individual shares in the property can reflect the individual contributions towards the deposit and mortgage repayments. This ownership structure doesn't have to be fixed, but can dynamically change over time.

We will collect all payments by direct debit. We require direct debits to be set up by everyone on the mortgage but the buying group (owners and boosters) decide how payments should be managed.

We can track who pays what towards the deposit and monthly payments and how individual ownership stakes change as a result.

Owners and Boosters can adjust who pays what every month, change bank accounts, adjust payment dates, make overpayments and more from their dashboard.

They can also gift, sell or transfer ownership to each other.

Fractional Ownership

Our Home Agreement acts as a Deed of Trust to represent everyone’s financial interest in the property, meaning everyone’s individual ownership stake can be tracked regardless of whether they put different amounts into the deposit or monthly payments.