Terms and Conditions

1.1

The guarantee period will begin on the date of legal completion by the purchaser of the relevant plot and will expire on the date 3 years after the guarantee period commences.

1.2

The Original Purchase Price is the net purchase price of the property set out in the purchase contract paid by the purchaser to Christ’s View for Cambridge or any group company or subsidiary of Christ’s View for Cambridge, excluding any payments made for extras or chattels.

2.0

During the guarantee period, if the purchaser completes a sale of the property covered by this guarantee for less than the Original Purchase Price, Christ’s View for Cambridge will pay to the Buyer a sum equivalent to the difference in value between the Original Purchase Price and the sale price to a maximum of 20% of the Original Purchase Price, subject to the provisions detailed below. The sale price will be the price achieved for the property excluding any payments for extras or chattels.

3.0

The Seller’s obligation to make any payment under the Guaranteed Value Scheme is conditional on:

3.1

The purchaser maintaining all applicable mortgage payments until the date of sale and complying with all other terms of the mortgage against the property.

3.2

The purchaser maintaining an adequate level of fully comprehensive buildings insurance on the property or, where the property is leasehold, paying all Service Charges when demanded including payments in respect of buildings insurance.

3.3

The purchaser maintaining the structure (where applicable), decorative condition and any gardens to the highest possible standard. For the avoidance of doubt, the requirement to maintain will extend to any parking space, garage or external area for which the purchaser is responsible under the Transfer / Lease of their property.

3.4

The purchaser maintaining any fixtures and fittings, included in the purchase price of the property, to the highest possible standard.

3.5

The purchaser complying with all covenants, planning permissions, building bye-laws and other obligations affecting the property, including any estate regulations imposed by Christ’s View for Cambridge or the Managing Agents for the property (if any), and acting reasonably at all times to all relevant third parties (including neighbouring property owners).

3.6

The purchaser or a member of their immediate family having occupied the property since the purchase as the purchaser’s main residence or the main residence of that family member.

3.7

The terms of the relevant disposal being freely negotiated in an open market.

3.8

The purchaser using best endeavours to sell the property at the open market value, using the services of a leading estate agent, approved in advance and in writing by Christ’s View for Cambridge, and allowing a reasonable time in which to sell the property being a minimum of 4 months.

3.9

There being no collateral or linked agreements negotiated with the purchaser and the third party purchaser which do, or may, affect the price negotiations.

3.10

The third party purchaser being a bona fide purchaser.

3.11

The purchaser simultaneously completing the purchase of a residential dwelling of equal or greater value as the property to serve as the purchaser’s main and principle residence at the time a claim is made, under the guarantee.

4.0

The purchaser shall notify Christ’s View for Cambridge, in writing, of the intention to sell the property, giving details of the valuations obtained and the estate agents to be instructed, before the property is placed on the market. The purchaser will also provide Christ’s View for Cambridge with regular updates on progress made in relation to the sale.

5.0

Christ’s View for Cambridge shall be entitled to market the property by an independent estate agent in tandem with the agent appointed by the purchaser, provided that Christ’s View for Cambridge will be responsible for any additional agency fee incurred as a consequence of appointing its own agent.

6.0

The benefit of the guarantee is personal to the purchaser named in the Transfer / Lease of the property and will not be assignable to any mortgagee in possession, successor in title or third party.

7.0

In the event of any dispute as to the interpretation of any provision of the guarantee, the decision of Christ’s View for Cambridge will be final and binding.

8.0

In the event of any dishonest claim the purchaser will be responsible for all costs incurred or loss suffered by Christ’s View for Cambridge and their consultants (including management time) in connection with such claim.

9.0

Christ’s View for Cambridge reserve the right to withdraw or alter any offer at any time prior to the payment of a non-refundable reservation fee.

10.0

These terms and conditions do not affect the purchaser’s statutory rights.

11.0

The circumstances and characters portrayed are fictitious and are intended to represent how the incentive schemes may work in specific situations.