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Ascent is pleased to offer a range of after sale services to customers who purchase their home with the support of a shared equity loan with both Persimmon Group companies, Derwent Shared Equity LLP and Rutland Shared Equity LLP. Ascent has been appointed to handle any enquiries you may have.

We support a varied range of transaction types, which are summarised below. Full information packs can be accessed by clicking on our “Info and Literature” sections where you will also find a list of fees payable for each transaction type. For each transaction type you will need to contact Ascent on 0333 010 0067 and receive permission before you proceed.

Re-Mortgaging

This describes when you change your lender, or change your mortgage with your current existing lender. It is a condition of your Equity Loan that you must not re-mortgage your property without the approval. Ascent will guide you through this process and will seek approval on your behalf.

Subletting

This describes where you wish to sub-let your property. Requests to sub-let will generally only be considered for members of the Armed Forces who are posted more than 50 miles or 90 minutes travelling time away from home.

Partial Redemption

This describes repaying part of your Equity Loan without selling your home. It is sometimes referred to as “staircasing”. You may be permitted to repay part of your Equity Loan although this is usually subject to a minimum payment.

Additional Borrowing

If you wish to borrow against your home including taking out further advances. This will normally only be considered when you are borrowing to repay some or all of your Equity Loan or if you need to make essential modifications/improvements to your home for hardship reasons brought about by a change in personal circumstances. Please contact Ascent on 0333 010 0067 to discuss your circumstances.

Home Improvements

When you want to make structural alterations or extensions to your property. Your Equity Loan was intended to help new buyers acquire their home so you should consider repaying your Equity Loan before making plans for improvements or alterations. However, we will review cases of special circumstances. For example, you may need to adapt a property because of disability. If you are interested in making alterations or improvements and believe your circumstances may fit the criteria please contact Ascent.

Repayment

This describes the process where you repay your Equity Loan in full. Full repayment will be required on the maturity date of your Equity Loan. However, if you sell your home you are required to repay your Equity Loan in full at this point. Alternatively, you may wish to remain living in your home and have another source of funds to repay your Equity Loan…


Equity Loan: FAQ

What does market value mean?

It is important you understand the basis on which your property is valued when calculating the amount you may have to pay if you are repaying your Equity Loan in full or partially or you are changing the ownership of your property.

The market value for these purposes is the price a willing buyer will pay to a willing seller on the open market with vacant possession on the basis that you have fully and properly maintained, repaired and decorated your property.

If you are selling the property you must agree the market value with Equity Loan Provider by contacting Ascent on 0333 010 0067 before you agree your sale.

How will my Interest fees be collected?

Interest Fees are usually paid in monthly instalments and our team will collect your Interest Fee by direct debit.

Ascent will contact you at least a month before your fees are due, to set up your repayment arrangement.

It is important that you pay the Interest Fees due on your Equity Loan as stipulated in your Equity Loan terms and conditions.

Please ensure that you contact us on 0333 010 0067 to arrange payment.
Your home may be at risk should you fail to make these payments.

My Equity Loan has expired, what do I do next?

Our team will contact you in advance of your loan maturing by way of reminder. It is important that you make arrangements to repay redeem your equity loan in full on or before the expiry date.
What if I cannot afford to pay?

If you are not able to repay your Equity Loan you should contact us at the earliest opportunity to discuss your situation and options available to you.

Ignoring the situation could result in your home being put at risk. Calling us on 0333 010 0067 will allow us the opportunity to work with you to find a solution.

We would also encourage you to seek ‘Independent Advice & Help’. Please use our dedicated “Help” section via this link which is designed to help you understand any actions you should consider taking.

What happens if I don’t pay my Interest Fee and/or Equity Loan on redemption?

Your home may be repossessed and sold to repay your outstanding Equity Loan. It is therefore very important that if you feel you are not able to repay your Equity Loan that you call us on 0333 010 0067 at the earliest opportunity to discuss your situation and options available to you.

We would also encourage you to seek ‘Independent Advice & Help’. Please use our dedicated “Help” section via this link which is designed to help you understand any actions you should consider taking.

Will Costs and/or Interest be added to my debt?

Interest will accrue on your account, in-line with the agreement you have with the Equity Loan Provider.

In the event that it becomes necessary to commence proceedings to repossess and sell your property you will also be liable for the associated costs.

How can I contact you?

Our team is here to help you Monday to Friday, 9am – 5pm. Contact details are below for your ease;

Telephone number: 0333 010 0067
Contact us through the website
Address: Ascent, Bauhaus, Rossetti Place, 27 Quay Street, Manchester M3 4AW