Exchange Bond® Via Mortgagenetuk.com

At mortgagenetuk.com we can help you find an alternative to paying a cash deposit on exchange of contract for your home purchase.

The facility is provided byExchange Bond®

An Exchange Bond® is an “insurance Policy” which guarantees the full deposit amount to the seller if the buyer fails to complete the purchase having exchanged contracts.

The buyer of the property is still liable for the full deposit amount if he fails to complete, but the debt is owed to the Exchange Insurance Company (“ExCo”) rather than the developer.

The Buyer pays a premium to ExCo for the Bond and the “beneficiary” of the policy (in the event of a default) is the Developer.

For further information and an indicative quote complete the Contact form by clicking the button below and one our consultants will contact you to discuss your requirements.

An application fee of £85 is payable.

The overall cost for comparison is 7.7 APR. Subject to the mortgage chosen a fee may apply which would vary dependent upon your circumstances. Maximum fee payable would be 1% of the loan amount

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Mortgage Network UK Ltd is authorised and regulated by the Financial Services Authority for life assurance, residential mortgages and general insurance business, registration number 302546. The Financial Services Authority does not regulate buy to let mortgages or second charge secured loans or overseas mortgages.