Rent Now Buy Later – No Mortgage Needed!
Feb 24th, 2010 | By Les Sheppard | Category: Featured ArticlesWelcome back! Have you made sure you never miss a new property? Subscribe to updates with your best email address in the sidebar to the right.You see everything new at least 48 hours before the crowd!
There 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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