eMoov has entered into a partnership with peer-to-peer lender RateSetter in another bid by an online estate agency to find an alternative to upfront fees.
A statement from eMoov says it generally charges an up-front fee to prospective sellers but the partnership with RateSetter means that the fee can be delayed until the house sale completes.
RateSetter says its loans have no early repayment fee, meaning that anyone selling a property can, if they wish, pay back as soon as the sale completes – whether that takes a week or a year.
“Having two disruptive companies team up like this provides huge advantages for anyone selling a property, making it far easier for them to manage costs” according to Rhydian Lewis, RateSetter’s chief executive.
“We’ve found some people prefer to pay on completion when they have the money from the sale, so we wanted to offer them a choice” says eMoov chief executive Russell Quirk.
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Um. ..... for sure doesn't sound like 'no sale no fee'
Id be worried what the offset/delayed APR was? Sounds like it could compound, and become very expensive. .......
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