What if I said to you there is a Rent to Buy Scheme available which could get you on the property ladder in a simple yet effective way and works as follows:
1) Property price is fixed at open market rate from point of exchange for 3 years
2) You can choose between 15-25% of the purchase price (whatever you can afford) which will be equally divided over 36 months (3 years) then 100% refunded back to you upon successfully exercising your option to purchase.
3) So the rent you pay is effectively creating your deposit
4) Equity in the property after 3 year agreement is all yours so you have higher chance of obtaining a mortgage on greater LTV basis
5) No shared ownership – you 100% own the property once you complete the deal
Considering that 40% of young adults can’t afford to buy their own home as they don’t have means to save their deposit without having to rely on bank of mum and dad, wouldn’t it be nice to be an independent home owner that is able to live within your means rather than throwing your money away each month ….only lining the pockets of landlords who can change the goalposts at end of your tenancy….
What’s your view? What’s the catch? Too good to be true? ….. nope it’s real …. it’s what we do …. not only do we train the next generation of desperately needed home grown trades we pass on the benefits we make through that with our own affordable housing Rent to Buy Initiative
We don’t play lip service to helping people …. would love to hear your thoughts