Never Rent Again!
Tired of renting, but struggling to get a mortgage? Really want to own your own place, but can’t save a big enough deposit? Think you will never get on the property ladder?
Think Again! The Rent to Own scheme is the answer…
By putting down a deposit in the region of just 3% of property value, you can make monthly payments, a proportion of which will be added to your purchase deposit. This then continues until such time as you are able to pay the remainder of the money to complete the purchase, which might be in two, three or even five years time -Whatever suits you and your circumstances.
2 bedroom property in purpose built apartment block (top/3rd floor) in Earl Spencer Court, Woodston, Central Peterborough. The property has the benefit of double glazing, laminate flooring and a garage and easy reach of the town centre facilities and shopping district.
HERE’S HOW IT WORKS:
The purchase price is £119,995 Purchase Price fixed till 2014
Minimum Option Fee/Deposit “move in money” of £2,500
Rental Payment is £525 pcm
In addition, every month you will make an instalment payment of £150 towards the purchase and as a company, we will match this monthly payment, which goes towards your deposit for a mortgage in 4 years.
You will pay a minimum of £675 per month.
During the 4 years, you will have accumulated a deposit of approximately 14%. The remaining 86% you will raise using a mortgage, which we can assist you with at the point of purchase.
Benefits of Rent to Own
Any improvements you make to the property you get the benefit.
If the value of the property has increased beyond fixed purchase price, you also get the benefit of that equity.
The more you pay, the quicker your deposit builds and the quicker you own 100% of the property
No mortgage is required until you buy in 2014. (But, you can buy at any time)
Option payment and monthly instalment payments provide your deposit.
The purchase price is fixed at the outset. You gain from any price growth!
Redecorate, carry out home DIY – YOU benefit from any added value by enhancing YOUR home
This is not shared ownership or a Housing Association scheme.
Legal contracts are required and assistance finding a solicitor who specialises in Rent to Buy contracts will be given if required
Rent to Buy could suit you if you are either:
– A first time buyer
– Currently renting but want to own your own home
– Struggling to raise a large deposit
– Have impaired credit
– Have recently moved to the UK
For further details or to arrange a viewing please contact
Steve@passgoproperty.co.uk or call 01733 441 988