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

Exercising the option FAQs

If I wish to exercise my Cenoption, how is this done and what are the timeframes involved?

The Welcome Pack you will receive upon successfully applying for a Cenoption contains full details regarding this. Within the contract you will be provided with an accompanying appendix document which is called the 'Option Notice.' This is a very simple form for you to complete and then send back to Centrila at any point after your option becomes exercisable, i.e. at any date from 3 to 10 years after having taken a Cenoption out. The return of the 'Option Notice' initiates the conveyancing process, with Centrila’s solicitors contacting your nominated solicitors to complete the purchase of your property from you within 3 months of you exercising your option.
 
If I exercise my Cenoption, am I liable for any fees?  
 
You are only responsible for your own solicitor's costs and also for any statutory requirements such as the provision of a Home Information Pack. You will also benefit from not having to pay any estate agent's fees which can range from 1% to 3% on a typical sale. 
 
Additional information

We try to make the information as wide-ranging as possible.
For more information on exercising your option, please speak to your Broker. 

Back    Next