Rent to buy
December 19, 2010
Rent to Buy
The ‘rent to buy’ option can make owning property more flexible and more affordable, as it allows you to buy a home after renting it for a set period of time. The tenant/buyer pays rent for the property and has the right to buy it within an agreed timescale, for an agreed price. The rent paid within that timescale can then be put towards the deposit needed for the purchase.
Rent to own home benefits:
- The rent you pay is not dead money, but turns into a worthwhile lump sum that goes towards a deposit for your own home.
- Buy at your leisure. The tenant/buyer may buy the house at any time during the term of the agreement.
- Get the opportunity to try before you buy. If you have been thinking of moving but are hesitant about making the decision to own your new home in case you change your mind, then this option gives you the freedom to put your dream to the test, without the risk. You also get to try out your ‘future’ home and determine if the area is right for you.
- Start owning your new home, while selling your current property. If you have to sell your current home in your home country to finance your new property, you don’t have to wait until that happens before settling into your new home. You complete the purchase of your new home when the sale of the other property is finalized.
Welcome to an Easy Rent to Buy scheme:
- Rent one of our top quality homes
- The monthly rent will be fixed for 1 year
- Move into your new home within days
- Buy your own home over 1 – 3 years
- If the property is bought within 1 year, the whole rent lump sum is deducted from the purchase price
- After the first year, half of the rent goes towards a down payment for the purchase
- You buy tomorrow at a price agreed today, reviewed on a yearly basis
- No mortgage needed until you are ready for one
- We help you to get the best possible mortgage terms when you are ready to buy
- Don’t want to buy when the option runs out? No problem, there’s no obligation
50% of the purching price can be given as a mortgage for 10 years; interest 1.9% fixed for 3 years.