FAQs - General

FAQs - Costs and Valuation
FAQs - Mortgages and eligibility
FAQs - Exercising the option
FAQs - Obligations for each party

Costs and Valuation FAQs

How much does a Cenoption cost?

The cost of a Cenoption depends on whether you have selected the Standard, Flexi or Multi Cenoption, and whether single premium or stage payment method has been selected, with your Broker being able to confirm the exact costs at point of application. VAT is chargeable on all Cenoptions at the current applicable rate. Your Broker will explain in detail the various features and benefits of the Cenoption product range available, the different payment and flexible terms available and will help you to decide which Cenoption best suits your requirements.
 
What is the valuation process?

Centrila will undertake its own valuation of the property. This is done by a combination of many methods which negate the need for an actual physical inspection. If you have any suitable comparable evidence or a recent survey of the property requiring a Cenoption, then these should be provided to your Broker at the point of application for Centrila's consideration. There is no cost involved in having your property valued by Centrila, allowing you to have your property’s value confirmed before you have made any financial commitment.
 
Can the cost of a Cenoption be split across stage payments?

Yes – the Standard, Flexi and Maxi products all have the ability to be paid by stage payments which is an ideal solution if you wish to spread the cost of the premium or wish to see how property price trends develop without committing yourself fully to having to pay the full premium upfront. 
The following stage payment schedule applies:

The first stage payment is payable at the point of your Cenoption being granted.
The second stage payment is payable on the first anniversary of your Cenoption being granted.
The third stage payment is payable on the second anniversary of your Cenoption being granted.

It is your responsibility to make sure that all stage payments to Centrila are made when required if you choose any stage payment route. Centrila will NOT send you reminders. If these payments are not made by the due date either by omission or you decide you do not wish to make either the second or third payment then your Cenoption contract will be deemed to cease on that date and will not be exercisable.


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