First time buyer offer extended to professional footballers

03-Jul-2007

A bond that offers first time buyers a simpler way into the property market is witnessing a surge in interest from professional footballers following the announcement of a new deal, it has been revealed.

Exchange Insurance Company (ExCo) has entered into a business partnership with the Professional Footballers' Association (PFA), allowing players to utilise the firm's Exchange Bond.

The product allows buyers to keep hold of deposits that are usually placed prior to the completion of a deal, instead purchasing an Exchange Bond to cover the gap between exchange and completion.

"We are very pleased to be working as a business partner of the PFA and to join a network of respected organisations. The Exchange Bond is a very attractive alternative to making a cash deposit and we are already seeing an impressive amount of interest within the football community," commented ExCo sales and marketing director Frank Speight.

First time buyers are increasingly unable to avoid the temptation to spend their deposit funds, it was revealed earlier this week.

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