Rent Now Buy Later – No Mortgage Needed!

Feb 24th, 2010 | By Les Sheppard | Category: Featured Articles

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Rent Now Buy LaterThere are now TWO ways to achieve your dream of home ownership >>>

1) You can buy the house the old way with a mortgage and a 10%, 15% or even 20% deposit required by the Bank, OR …

2) You can join my satisfied rent now buy later customers and start buying the house right away with a low weekly payment and no need to qualify for a mortgage!

It’s just like renting except that, just like a normal mortgage, some of the money goes towards buying.

You can usually move into your new home in as little as 7 days!

Here’s a review of what you can expect from one of my Rent To Own agreements.

What Do I Have To Pay?

• A document preparation fee of £395

• Some “Get Started” money, based on what YOU can afford, (nowhere near what the Banks demand!), ALL of which goes towards the purchase of the property

• The rent is normal market rent per month, based on local rates for similar properties

• In addition to that you pay a ‘premium rent’ – ALL of which goes towards paying for the house and builds up your deposit for when you get a mortgage later down the line

What Else Do I Need To Know?

• The price of the house is fixed for the whole term of our agreement

• At the minimum rate, by the time you come to buy you will have saved up a useful % deposit, but the more you pay the faster and bigger your deposit will grow

• No mortgage is required until you buy at the end of the term we agree (but you can buy earlier if you wish)

• Price growth and rent deposit payments provide your deposit for the eventual lender

• House prices are rising again but YOUR purchase price is fixed at the outset so YOU gain from any price growth!

• Redecorate, carry out home DIY – YOU benefit from any added value by enhancing YOUR home

• This is not a shared ownership or Housing Association scheme – you will be buying 100% ownership

• I only use Law Society approved solicitor paperwork

• I can help you get advice on your mortgage towards the end of the term, or sooner, with your deposit fund or you can use any mortgage broker you wish.

• Move in, and buy later – or walk away! You do not have to buy if you change your mind.

• Perfect if you are either;

- A first time buyer struggling to get onto the housing market

- Struggling to raise a large deposit

- Currently renting but want to own your own home

- Have impaired credit and can’t get a mortgage right now

- Have recently moved to the UK

Please NOTE: This property will be rented UNFURNISHED ready for you to move in.

No mortgage is required whilst renting/buying.

With prices rising in 2010 these properties are never around for long so call Les on 07823 880405

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