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Purchase of a ‘Grave in Reserve’ – What is it? What rights do I have? What are the financing options?
My family all wish to be buried close to each other and I am looking to purchase a plot (grave in reserve) for future use which is close to my mother and father. However we are in London and the costs are prohibitively expensive even as a resident of the borough where the cemetery is located and must be paid straight away. Do you have any suggestions as to how we might fund the purchase (£3358) and on what grounds is it held. And if our circumstances were to change would I be able to sell it? If so, what is the process for doing so?
A GRAVE IN RESERVE is a purchase of a burial plot for future use where the set location you choose is the one you get. The plot will remain reserved for you and/or to be used by you for the term, which is normally 75 years. As new graves come to be taken the grave allocated to others yours will remain unused so if the location close to your parents is important it is an important purchase.
If you are prepared to wait, we have checked and there is sufficient capacity within your chosen cemetery at the current rate of occupation for you almost certain to be permitted to be buried there in future, but of course there can be no guarantees and without a Grave in Reserve purchase you will not be allocated a set position. However the purchase of a Grave in Reserve comes at a premium of more than £1500.
The terms of the purchase mean a grave is reserved for a period of up to 75 years from the purchase for which you get the Exclusive Right of Burial which is governed by a legal document (similar to a lease) called a Deed of Grant.
Should your circumstances change the plot can be sold, although a small charge will be incurred with the local authority for the transfer (currently less than £200).
In terms of funding, our credit provider Funeral Safe will lend money for plot purchase (subject to status) and at this level of loan over 60 months, repayments at current interest rates would be £79.59 a month. We would strongly suggest you get a decision in principal before committing to purchase by completing the Funeral Safe application so you are effectively in the position of a cash buyer when the purchase is made.
We trust this free advice is useful to you. Should you need any further free advice or assistance on any funeral matter our helpdesk and concierge teams will be happy to help.
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