HCR has seen an increase in companies seeking funding for Guaranteed Sales Price (GSP) schemes in the last few months. The imperative to relocate staff in order to meet the business need is still there, but it seems that funding for these schemes is not so freely available from relocation agents and their bankers as it was prior to the credit crunch.
Although many companies who relocate staff using a GSP scheme will self-fund, a large number have relied on their relocation agent to provide a funding stream. Industry sources tell us that those funding streams have dried up and companies are finding they simply cannot depend on their relocation agent for a funded GSP scheme anymore.
The good news is that HCR are still offering a fully funded GSP relocation scheme (the small print – subject to credit status). We have a long and well-established relationship with our funding bank, and this is proving very beneficial to existing clients. New clients are also getting access to this funding at competitive rates.
If you are looking to obtain GSP funding and interested in combining it with excellent individual service, please give Natascha Clark a call on 01256 313839 and see how HCR can help you minimise your risks and look after your staff.
Essentially, a GSP scheme allows employers to value an employee’s home and then offer a Guaranteed Price through a relocation company. The employee can then seek for a new home in the destination area knowing what price they have guaranteed for their departure home. Funds are released to buy the destination home and the employer pays the interest until the departure home is sold.
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