Rent to Buy
Rent to buy offers a new opportunity for first time buyers and tenant buyers to get a foot on the UK property ladder without having to be approved for a mortgage immediately or find a large deposit. This worthwhile method of purchasing property has also spurred the government to introduce its Government Homebuy scheme.
But with lease options from Rent to Buy, more people now have the chance to own up to 100% of a property from day one, as opposed to owning just 70% of a property in the Homebuy Scheme.
As a result, the rent to buy UK scheme is becoming increasingly popular, particularly with those who have struggled to get a mortgage in the past due to poor or no credit history as well as those who are simply fed up of handing over 'dead money' each month.
Own your own home with a Rent to Buy
A lease with option to buy can enable first time buyers to get an immediate mortgage approval within an agreed timescale and for an agreed price, without having to fork out a huge amount of money for a deposit. Becoming a tenant buyer could not be more advantageous and rentobuy.co.uk are your one-stop shop for finding the lease option to suit you.
To get started with a lease options property purchase, you'll be required to make a down payment (also referred to as Option Consideration). This can be paid along the with the rental money which has been agreed in the AST Agreement.
Option Consideration can be credited against the agreed purchase price if the purchase lease option is exercised and is ideal for residents who are new to the UK.
A purchase lease option is perfect for first time buyers whose credit ratings aren't quite up to scratch. Unlike other property purchasing methods, entering into a rent to own scheme will allow you to live in the home you want while you repair your credit rating.
People who are looking for Negative Equity Help can also use Rent to Buy to sell using our Homebuy scheme. Private sellers, property developers, buy-to-let landlords and for sale-by owners are all taking advantage of this.
While most property markets have seen a decline in supply and demand, the current economic climate has helped to make lease options one of the best ways of helping home buyers and tenant buyers to get onto the ladder.