frequently asked questions
Got questions?
You’ll find answers to all the most commonly asked questions here. But if you can't find what you're looking for, just get in touch. We'd love to hear from you.
Head to the Life Boost Illustrator; answer a few simple questions and we'll get back to you within 24 hours with an indication of the amount of Life Boost Moovable could provide you with.
Then if you're interested to move forward the next step will be to complete an application so we can get to know you better and together create the most suitable Life Boost for you.
Contact us if you want to know more
No. A Moovable Life Boost is not a loan. There are no monthly repayments for you to make for the duration of the Life Boost*. The Life Boost does not incur interest or need to be secured against your home. It also doesn’t affect your credit rating. It’s simply a cash lump sum, provided up front, that helps you afford the things you want to pay for.
How does Moovable get paid?
Moovable obtains reimbursement for the Life Boost lump sum you receive through the housemate rental payments that are paid directly to Moovable.
* If you choose to terminate the Life Boost agreement early then an Early Termination Fee will apply. See "Can I terminate my Life Boost agreement?"
Contact us if you want to know more
Moovable Life Boost funds can be used by you for any legal purpose, with the exclusion of major renovations that would make the property unsuitable for a Housemate to live in. So - no major fixer-uppers or renovation projects please!
Contact us if you want to know more
Your Life Boost lump sum will be based upon 12 monthly rental payments received. Each Life Boost applicant will be assessed individually to ensure the arrangements are suitable for your circumstances.
Contact us if you want to know more.
Yes, the property needs to be your primary residence.
Sourcing the right housemate for you is something we take seriously. We’ll find out your preferences up front and carry out all the necessary checks to find you housemates to choose from, who meet your criteria and satisfy our standards and requirements. Moovable conduct a thorough selection process for your peace of mind with you involved every step of the way.
To find out more about how we match you with a housemate, get in touch.
We completely get that circumstances can change. If you need to end your Moovable agreement early you can always do so, along with paying a termination fee. To find out more,
Most room renters won’t have their own furniture. So, to keep things simple, we ask that you have all the essentials ready for when they move in. This includes:
Double bed and mattress (unless specified as single)
Bedside table and lamp
Wardrobe
A Moovable Life Boost not only provides you with a cash lump sum; you also get to share a percentage of the rental income. Here's how it works:
You will receive 5% of the monthly rent received from the Housemate paid monthly directly to you from Moovable.
Moovable will also pay you a monthly contribution towards agreed household bills costs.
In addition to monthly income you will also be eligible to receive the following:
At the end of your Life Boost arrangement with Moovable:
- Moovable will pay you an additional lump sum of up to 7.5% of the rent received.
- You will be eligible for an additional lump sum bonus payment of future rental income received should you decide to take out a new Life Boost and your housemate remains for the full agreement.
It all adds up to debt-free funds to boost your life; putting you in control.
No problem at all. We understand that people's lives can change and you are not locked in to a Life Boost agreement.
If you wish to end the agreement early, Moovable will provide appropriate notice to your housemate - typically one month maximum - and Moovable will advise you of the amount of your Early Termination Fee.
You’ll need to contribute a minimum of 5% of the value of your home towards the deposit. We’ll then boost your deposit by between 5% and 20% of the property value.
No. Unlike a loan, the deposit boost doesn’t incur interest or need to be secured against your home. It also doesn’t affect your credit rating. It’s simply a cash lump sum, provided up front, that helps you afford the home you want in the area you want.
Your home will be 100% yours from day one, so we won’t own a share of your property.
This is dependent on how much of a deposit boost you need and can be from between 1 and 5 years. Contact us if you want to know more.
Because you need to rent at least one spare room, your chosen home needs to have a minimum of two bedrooms. It needs to be in a liveable condition – so no major fixer-uppers or renovation projects.
Yes, the property needs to be your primary residence.
Great! All you need to do is put us in touch and we’ll get to work on all the formalities so they can move in as soon as you’re ready.
And because you’ve found a housemate yourself, you’ll receive 10% of their rental income!
Sourcing the right housemate for you is something we take seriously. We’ll find out your preferences up front and carry out all the necessary checks to find you a housemate to meet up with, as part of the selection process. Normally, this would be more than one potential housemate.
To find out more about how we match you with a housemate, get in touch.
We completely get that circumstances can change. If you need to end your Moovable agreement early, you can do so by paying a termination fee. To find out more, get in touch.
Most room renters won’t have their own furniture. So, to keep things simple, we ask that you have all the essentials ready for when they move in. This includes:
Double bed and mattress (unless specified as single)
Bedside table and lamp
Wardrobe
The Moovable launch is supported by Newcastle Building Society.
To get started, contact us today and discover how much we could boost your deposit by.