Are you struggling to raise deposit to get a mortgage?
Are you tired of paying ‘dead rent’?
Do you want to build up equity in your home even before you get a mortgage?
Do you want to be free to use your DIY skills to upgrade your home to your taste?
Are you having problems getting credit and need time to improve your credit rating?
Can you afford to pay rent monthly but can’t get a mortgage?
How Rent to Buy works
What is a Tenant Buyer?
A Tenant Buyer is a future purchaser that has the option to purchase a property at an agreed price at an agreed price within an agreed timescale, during this time they will have many of the benefits of a traditional homeowner without having to obtain a mortgage to get started.
The Seller will allow the Tenant Buyer to live in the home as a Tenant before they actually purchase the home from them
Fed up Renting and want to start Owning?
Benefits to a Tenant Buyer
No mortgage needed
The purchase price will not increase
Fast move in
Time to iron out any wrinkles in a credit rating
No large deposits needed
Can make your mark on the property, freedom to improve the property
How Long Does It Take?
You can get into your “Own Home” very quickly, once the relevant paperwork has been signed then we can work around a date that suits you, normally we work to a timescale of around 4 weeks, this gives you the time to pack and sort out things like new schools etc.
How Much to Get Started?
You will need some “Getting Started Money” this is an amount of money that will come off the final purchase price, class it as an investment in your future, although each property is different a rule of thumb would be between £3000 to £4000
What Happens at the End?
You purchase the property, contracts are drawn up with a solicitor. Your getting started payment is deducted from the agreed house price.
What to do next?