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We offer a scheme in which we can give you the right to purchase the property which you rent from us. You will be able to move in as a tenant, with the option to buy after a period of renting.
Why would this benefit you? Well it is simple. You wont have to find such a large deposit for a start and you will be, effectivley rebuilding your credit scoring if all payments are made on time. Also you are not obliged to exercise your right to purchase if you change your mind.
By agreeing to a longer lease and taking over the maintenance of the property yourself, you will receive a share of the increased value of the property which can be used to help you purchase it in the future.
Usually high street lenders would like to see a 10% deposit for the purchase of a property, so if you are looking at a £120,000 flat you would need to find £12,000! We on the other hand will ask you for a substantially smaller deposit, such as a rental deposit and will charge you a pre-arranged, slightly higher than average monthly rental figure, Typically 12-18%.
Our legal partners will draw up a legal rent to buy contract and our finance partners will arrange the mortgage when you decide to exercise your option to buy.
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