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Redemptions made easy with a helping hand from HOP

29 June 2009

Majid originally bought a property in Southampton through Swaythling Housing Society. He owned 50% of his home with a mortgage, and the other 50% was paid for with an equity loan from English Partnerships (now the Homes and Communities Agency). However, when his employment changed and he moved to London, Majid visited the Housing Options Plus website to find out what he should do next.

Majid then contacted the Housing Options Plus post sales team and spoke to Duncan Ledger. "Duncan walked me through the process," said Majid. "He explained the options which were available to me - which including renting my property out or selling it - and after discussing these options I decided to sell. Duncan told me how I could do this, and explained that the process included a redemption, which means paying back my loan to English Partnerships." Majid worked with Duncan and his solicitors to sell his property and pay back his loan, so that he could buy a new property in London.

"It's been excellent, Duncan has helped me every step of the way. I wasn't so sure what situation I was in with the share English Partnerships held in my property, but luckily they were flexible and Duncan relayed my situation to them and he helped me through the process."

Majid has now sold his property.