Applying for your Pfida home journey.
Partners, in it together.
Join the waiting list for home finance.
By registering a Pfida account, we’ll automatically add you to the public waiting list for home finance. The current estimated waiting time for home finance is 5 years, with a recommended 20% initial equity contribution from you.
Your wait time is dependent on a number of factors, such as how much deposit you have, how much finance you need and your affordability. You can tell us this information by completing the finance requirements form after registering your account.
(Psst! Check our GYS Home page to see how you can get prioritised!)
What happens when it’s my turn?
We might carry out a few basic checks before presenting you with a DIP but once you have this, it’s time to go house hunting.
Ip-DIP-do, time to find a home.
This doesn’t mean you lose your turn though – we’re just waiting for you to get back to us! Once you’ve found that perfect home though, make an offer aligned to your DIP. As soon as it’s accepted, let us know and we can really get started.
Full property application.
This part’s quite lengthy, but it’s the home stretch! Once you’ve completed your full property application, we’ll draw up an illustration for you with expected pricing* including stamp duty, as well as starting all the due diligence.
This involves credit checks, identification verification, affordability checks, property surveys and valuations, and conveyancing.
All in all, this stage can take between 2-4 months, sometimes even more as it involves a number of external parties working together. You’ll need a solicitor at this point too.
Once this is complete, it’s time to transfer your initial equity contribution. A completion date will be set and hopefully you get your keys to your new home in no time!
*Top tip: Use the Pfida home calculator on our web app to work out the cost of purchasing your home through our co-ownership equity scheme.
We’re here to help
As your partner in the property, we’ll be here every step of the way to help you throughout your home ownership journey. You can reach out to us anytime by filling out a contact form online or scheduling a call with us, the Pfida team are here to talk through any questions you have.
Get ahead with Pfida.
Since you are under no obligation to purchase our share of the property from us this means there is no debt. This also means no early or late repayment fees ever for not purchasing equity.
Not pegged to interest
The rent we charge does not relate to macroeconomic indicators such as interest rates. Instead, it is determined by a number of factors including the local rental market, with annual rent reviews capped to reduce uncertainty.
Since we sell you the property at the original purchase price, and not at the current market value, and provide rental discounts (unlike other shared ownership schemes), we do our best to make sure it remains affordable for you.
True risk sharing
Your equity, your choice
Our product reduces the risk of foreclosure by introducing an equity buffer. This allows you to pay us in equity if you cannot afford your rent. You can then purchase it back again once you are able to, in your own time.
Take a moment to check out our home finance eligibility criteria to make sure you meet the requirements.
Click here to check your eligibility.
We know 5 years is quite a long time to wait but we do have a workaround – our GYS account!
You can read about stamp duty and how it impacts your home purchase by clicking here.