Rent To Own
Rent to own is a very simple and easy way to get on the housing ladder for tenants
that can't get a mortgage for various reasons such as:
- Not enough deposit saved up
- Poor credit rating, CCJ, defaults
- Self employed, less than 3 years accounts
- Another way to own your home
It is not a new concept and has been used in property transactions for hundreds of
years, it's basically buying a house over an extended period of time, a bit like try
before you buy. We are not reinventing the wheel, just putting a modern spin on
things to help tenants purchase their dream home.
So how does it work?
- After viewing the property you pay an initial low deposit to secure your Rent To Own property, you can normally
move in within a week.
- You pay a set monthly rent and a "deposit top up". The deposit top up is paid into a secure client account with full
client protection and "delity insurance" so no need to worry about the deposit.
- The monthly deposit top up builds up an amount which goes towards your mortgage deposit when you come to
purchase the property within the agreed time. You can buy the property in week one, year one or any other time
within the agreed time period.
- The purchase price is fixed, BEFORE you move in. This does not alter within the agreed time period under any
circumstances. You will benefit from any increase in the house price. You can even sell the property before the
notice period expires and benefit from any profit.
- Each month the top up fund is increased thus giving you more equity in the property.
Benefits of Rent to buy
- Only a small amount of money is needed to move in. We do ask for small amounts which will depend on the type of
property and deal that is available at that time. BUT you can't expect to buy a house for nothing can you? We need to
know that your serious and committed to buying the property.
- Rent is fixed for a set period of time, at least 5 years and up to 10 years.
- The price of the property is fixed TODAY. It can't be raised at any point within the agreed time scale.
- No credit checks Guaranteed.
- No mortgage required to get started.
- You save up for the deposit on a monthly basis, so you don't have large sums to pull out initially.
- Decorate, improve, add value as you wish to the property, and basically treat it as it's your own home because it will
- You can just walk away if your circumstances change and providing you are not in any arrears and the property is in
the same or better condition, it will not affect your credit rating.
The process couldn't be easier
- You choose the property you want to view from our list
- You view the property
- We agree the figures and draw up all the legal paperwork at NO COST to yourselves
- You pay the initial small deposit
- Sign the contracts
- You move in and enjoy YOUR home and treat it as your own