In a perfect world everyone who wanted to own a house would have a 10-15% deposit saved up, perfect credit, a mortgage offer, money for legal fees saved, a survey and a spare pot of money in case something needed repairing or replacing.

Unfortunately we all know that reality is very different.  If we could show you how to move in to your own home with less costs, less risk and much less hassle? Would you be interested?

Rent to own is not a new concept; it's just buying a house over an extended period of time.  After a modest initial payment, you can move in, in a matter of days, make a smaller initial payment than a bank would expect, then make your monthly rent payment.  You don't need to pass the strict checks and have perfect credit that banks insist on and you can save for the remainder of your deposit whilst you live in the house. Our properties will even allow some of your rent to go towards the purchase price!

Compared to the alternatives rent to own is much easier; you can choose whether you buy, you can change your mind and walk away within the first year. Certainly not something the banks would be willing to do.

How does Rent to own work?

Rent to own works in a similar way to buying a car on finance.  With a car, you pay a deposit, drive the car out of the showroom, pay a monthly payment and maintain it.  At the end of the term – usually 2-3 years, you pay the balance or sell it on. Rent to own works in a similar way but with a house.

If I were to ask how much of your rent goes towards buying your own home?  What would you reply? None? You had better keep reading...

So here's an example:

You move into a 3 bedroom rent to own home and live there for 5 years before getting a mortgage from the bank.

• The house is worth £125,000
• You pay an initial payment of £5,000 for the right to buy the home on the scheme.
• We pay the legal fees associated with setting up the agreement.
• You move in and pay your rent of £600 a month.
• Each month you pay an extra amount of £200 rent credit (this comes off the balance of the property).

At any time you can own the home outright (unlike shared ownership.) The purchase price of the home remains fixed over the five years. You have paid a rent credit of £200 each month which will be used to go towards the purchase price of the home.

• Purchase Price: £125,000
• Rent Credit over the 5 years: £12,000 (£200 x 60 months) This amount comes off the purchase price
• £125,000 - £12,000 = £113,000

As the purchase price was £125,000 and you have a £12,000 deposit!  You can go to the bank; get a mortgage for the balance of £113,000. YOU NOW OWN YOUR HOME.
You are responsible for maintaining the property. The value of your home may have gone up over the past five years – ANY INCREASE IN THE PROPERTY OVER THE TERM IS YOURS TO KEEP.
Does that sound like something that would interest you?  YES! that's great, Just email us on the contact us form This e-mail address is being protected from spambots. You need JavaScript enabled to view it .  We can get you started on the road to home ownership.