Rent to Buy Properties, Buy Properties UK
As we all know, the banks have virtually stopped mortgage lending. If they do lend, you'll need a massive deposit up front and also a stable employment history. They will also charge you a whopping interest rate and arrangement fees.
So that excludes people who:
- Have a bad credit rating or CCJ from years ago. Even a repossession.
- Have recently immigrated to this country in the last three years.
- Are self employed people who can't show three years books.
- Have a low basic pay but regularly get large bonuses. The banks just would not look at you.
- You just need to have a burning desire to own your own home.
- We specialize in the helping people get started on the property ladder in the current difficult financial climate.
- You will not need to apply for a mortgage so you credit history is not considered. You do not need a massive 20% deposit.
- You can move in to YOUR OWN house in a matter of days.
So, how does it work?
- We will show you a number of properties in your area. If it is suitable and you like it, then
- You pay a small starter payment of as much as you can sensibly afford. This payment comes off the purchase price of the house at the end, so the more the better. 3-5% is typical. Compare that with 20% required by the banks.
- You agree a time period to buy the house outright. This can be between 3 and 10 years.
- You pay rent plus a little extra every month which builds up a deposit that you can use when you buy the house outright.
- You can make optional extra payments that are offset against the final purchase price.
- At the end, you decide whether to purchase the house at the agreed price. You Start Payment and any monthly extras can be used to reduce the price orprovide a deposit with the bank.
What if house prices go up?
Do not forget that this is your own home. You are free to decorate and make improvements. As the housing market recovers over the next few years, property prices are going to rise. Any increase in the value will be yours.
What if house prices go down?
You can still buy the house at the agreed price or, because you are a tenant buyer, you can actually pull out of the deal. All you will have to pay are our administration costs in finding a new buyer.
I am interested, what do I do next?
Fill in the form to get on our waiting list. We will mail you details of properties as they come in. As soon as you see one you like, give us a call and we will help you “Get On The Property Ladder”.