Document background
The Owner Finance Agreement serves as an alternative financing solution when traditional mortgage options may not be suitable or available. This document, governed by English and Welsh law, establishes the legal framework for seller-financed property transactions, detailing crucial elements such as payment terms, security arrangements, and both parties' obligations. The agreement must conform to various regulatory requirements, including consumer credit legislation and financial services regulations, while providing clear terms for both seller and buyer. Owner Finance Agreements are particularly valuable in situations where buyers may face challenges accessing traditional mortgage products or when sellers prefer to generate ongoing income through financing the sale themselves.
