HCR’s Guaranteed Sales Price (GSP) service provides an agreed amount of funds in advance of the sale of an employee-owned property; these funds are then made available to the employee for when they exchange contracts on their new property. This process eliminates some of the barriers and inconvenience that the employee may otherwise encounter when selling their property – the provision of a lump sum of funds allows them to move house immediately, and focus on settling into the new location.
Effectively, the GSP service breaks the property chain and strengthens the employee’s position when purchasing a new home as they will be negotiating as a cash buyer. HCR is one of the few companies in the UK who is able to provide full funding for this service. Since HCR was one of the pioneers behind GSP, and our relationships with our banks are secure and long-lasting, we can offer competitive rates for funding.
Under the GSP service, the purchase can either be funded by the client or by HCR. When the property is sold, HCR will repay to the client company (or the bank, if HCR funded) the amount of GSP funding advanced on the property. If there is a gain-on-sale, this sum will be utilised in accordance with your company Relocation Policy; HCR do not in any way benefit from a gain-on-sale.
Click HERE to watch our explainer video on GSP.