Rent Payment
For the part of the property owned by Offa Money, the customer will pay a rent. This rent can be set for a fixed period of 2, 3, or 5 years, or it can be variable, subject to changes at the end of each calendar quarter.
Rental Agreement Terms
Let’s go through some of the important details of the rental agreement between you and Offa Money.
Calculation of Rent
The rent is determined by a rental rate (percentage) multiplied by the percentage of the property owned by Offa Money and further multiplied by either the acquisition value or the refinance value of the property.
Property Maintenance
The customer is obligated to maintain the property on behalf of Offa Money.
Rental Rate Adjustment
The rental rate offered will be fixed for a specified period and will then revert to Offa Money’s reversion rate, known as Offa SVR.
Offa SVR
If you don’t want to accept cookies from our emails, just close the email before opening any images or clicking on links. You can also adjust your browseOffa SVR is determined by a margin over the Bank of England Base Rate (BBR). It is subject to change at quarterly intervals based on any adjustments to the BBR.r settings to limit or reject cookies altogether. These settings will affect all cookies, whether they’re from websites or emails.
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Administered Rate
Offa SVR is an administered rate and may not necessarily move in the same proportion as changes in BBR. However, it will remain unchanged if there is no movement in the BBR. (i.e. the product is not a tracker).