Easily Get The House Of Your Dreams
Simply get your keys, move in and pay a monthly rental fee – and when you have additional funds you can purchase shares in the property and in time you will own 100% of the property.
How Bunce Works
Bunce is a simple alternative to buying or renting a house; offering access
to nicer homes as well as a financial return (all without any banks!).
First, you’ll need a BunceCrowd Buyer account, which you can create in just 5 minutes using our form here. All we need is to provide the following: name, address, details of where you work, regular income and a photo of some ID and answers some basic questions.
Apply For A BunceCrowd Buyer Account
Next, you can create a 1-2min elevator video pitch about yourself and on why you want the Crowd (our wide range of investors) to back your property.
BunceCrowd will reinforce your campaign by verifying the level of funding available (maximum property value based on location, mean monthly rental for the area and your regular income).Create Your Pitch
Your Pitch will be made available to Investors, once the target funding is pledged, you will get a notification, then when you are ready to continue you will pay an application fee, sign a couple of legal documents and then you are free to go and find your dream home.Your Campaign Launches!
Once you find your dream home (within the funding pledge) you will advise Bunce of the property and we will arrange for a survey. If everything stacks-up, we will purchase the property via a SPV Limited company.We Buy The House
And Now Enjoy Your New Home!
And Then You Move In!
After everything above has completed we’ll advise you of your moving in date.
Once you move in you will pay a rental income each month to the SPV limited company that owns your home.
While living in the property you can purchase shares of the property and can offset your shareholding against the monthly rental fee. Furthermore you will also gain a percentage of the capital gain within the property (for the duration you are living in the property if the property value goes up).
After 5 years you’ll earn 5% of the property, therefore the monthly rental payments don’t go to waste.
Other benefits are that you can give 30 days’ notice (after a set period of time) and can exit the property and either retain the shares in the property (receiving monthly returns when the property is re-let) or Bunce can purchase your shares at their original value.
It’s Simple, Accesible & An Investment
Bunce enables homebuyers like yourself get the keys for the house of your dreams.
…And There’s More
Who We Help
Anyone! From first-time buyers looking for an alternative to purchasing a house to people tired of paying rent with no return; anyone looking to move home.
Instead of saving up for years for a deposit and being tied down for a decade with a mortgage, all you need is to pitch your house purchase to our investors.
Better Than Renting
With renting you’re just giving your money away, living in a house you’re not allowed to make changes too and don’t benefit in any way for the house gaining value.
With Bunce, if the value of the house goes up you’ll be given a share of the capital gains – incentivising you to increase the house’s value and maintain it correctly.
After a continuous 5 year rental payments you’ll recieve 5% of the property, therefore not wasting your monthly rental payments.
Better Than Buying
Buying a house is a very expensive process; requiring you to save a deposit for sometimes years, pay for a mortgage advisor, solicitor and a whole bunch of other things.
Instead, getting a house through BunceCrowd requires only the sign-up fee of £1,500, taken only after successfully finding backers to finance your house purchase: we sort everything else (survey, conveyancing, etc) out!
Frequently Asked Questions
What is a SPV Limited Company?
A Special Purpose Vehicle is a UK-incorporated Limited Company specifically set up for the purpose of purchasing the property.
What are capital gains?
Capital gains area profit from the sale of a property or an investment.
What is the "original value"?
The purchase value of the property.
What is a "minimum term"?
The minimum term is how long you are locked into renting the Property- for BunceCrowd this is 3 years.
Creating a Homebuyer Account & Buying
How do I find out if I'm eligible to use BunceCrowd?
You must be at least 18 years old to apply and not over 75 years at the end of your minimum term. Only your retirement income will be considered if you want your term to go past your planned or state retirement age.
You will need to show payslips, bank statements and/or HM Revenue & Customs documents to confirm your income and to help make a decision on what size funding is sensible for you to take on.
Even though two people may have exactly the same income, their outgoings can be very different. So, as well as taking your income into consideration, it’s also important to think about your other financial commitments, and consider what effect future interest rate rises could have on your finances. This is to help guard against your rent becoming unmanageable.
Again, you will be asked to confirm your outgoings as funding will not be agreed if there is any indication that you cannot afford it or keep up the payments.please remember that changes to your personal circumstances can alter your financial circumstances as well.
What fees do you charge the home buyer?
BunceCrowd will charge a £250 pre-application fee to cover administration costs this will be applied when you submit your pitch to the Investors (if your pitch is not successful you will be returned 100% of your money) and a further £1250 will be paid.
How long does it take to verify my ID?
Our ID verification checks can take up to 24 hours. Once you have created your account you will be asked to upload a photo of your ID. You can do this straight away, but you can upload it another time if you don’t have details to hand.
To make our ID checks as quick as possible, please ensure you provide photographs of the documents requested and that they are clear and legible.
I've been refused a mortgage, can I still use BunceCrowd?
Yes, as long as you have lived in the UK for more than 3 years and are not bankrupted, are registered to vote and have a regular income.
What checks on me do you make?
Before you apply, we’ll ask for your consent to search the information held about you and your financial arrangements. Personal details about you and, in particular about your financial arrangements with banks and other financial service companies, may well have been passed on to credit reference agencies.
This and other publicly available information, such as the electoral roll, is held by the agencies and, with your consent, made available in connection with future loan or credit applications you may make. The services of a credit reference agency and also fraud prevention agencies will be used to help assess your application.
If I create an account does that commit me to purchasing a property?
No. Joining us is free and without any obligation. Once you have created your account you can view more detailed information about, plus you will send you a buyer’s guide.
What's the typical turnaround time from pitch to keys to your new home?
Typically the process will take 30 – 60 days; from pitchinig to getting keys to your new home.
What’s is the minimum term rental term?
The minimum term is 3 years.
Who manages the property?
Bunce Property Management Limited is appointed to manage the SPV. BPM duties may include appointing and supervising letting/management agents, maintaining the property, maximising rental income, arranging for bookkeeping/accounting and filing annual returns. BPM will charge an asset management fee of 8% of the Gross rental generated by the property.
Who owns the property after its purchased?
A Special Purpose Vehicle (UK-incorporated Limited Company) is specifically set up for the purpose of purchasing the property and will own it on behalf of the BunceCrowd investors.
What happens if I want my money back for the shareholding in the SPV?
Most SPVs provide that you are free to sell your share to a third party at any time. Bunce will look to purchase your shares at the original value or Bunce can help you to find a buyer but please note we will charge a fee for doing so as this is a legal transaction with a degree of paperwork involved.
The fee is a minimum of £50 + VAT per buyer that we source for your shares. Please note there is no guarantee you will be able to find a buyer and selling shares in an unlisted company may not always be possible.
Can I modify / decorate / add to the property?
Yes, as long as you enhance the value of the property and not cause damage that will in the future undervalue the property; you can always contact our accounts team for clarity before you start making changes.
What happens if BunceCrowd becomes insolvent?
In respect to our equity investments (Property Crowdfunding), the BunceCrowd acts independently of the SPVs and is simply a listing platform. The SPVs remain the legal possession shareholder of the SPV and the property.