Our Home Provision Scheme is set up to help you buy your home free from debt.
When you invest with us, you’re buying shares in Pfida Finance PLC. This is a Public Limited Company (PLC) which exists solely to purchase homes.
How we set up your home purchase:
When you have found the property you wish to buy, your initial equity (deposit) is invested in Pfida Finance PLC. If you’re a GYS Home account holder, your investment amount can be used as your initial equity.
Your initial equity amount will be utilised towards purchasing your property, and we’ll make up the difference to purchase 100% of the property through Pfida Finance PLC.
The legal freehold title will be owned by Pfida Finance PLC, and we’ll pay the stamp duty upfront through this special purchasing company too.
Once the property is purchased, we will grant you a rental lease to live in the property. This gives you security of tenure for the period of that lease, as long as you meet your rent payments on time and meet the expectations set out in the terms of the agreement.
How your shares work:
This company is owned directly by you and our other investors, but it is managed by us. When you buy shares in Pfida Finance PLC, you receive share certificates confirming your position as an owner and shareholder.
Your money goes into creating the share capital of Pfida Finance PLC. This share capital is a pooled money source from all our investors, which is used to purchase homes.
Our contract with you states clearly, that upon purchasing equity, your shares relate to your specific property.