RENT TO BUY

What is Rent To Buy

A rent to own agreement (also called Rent To Buy) is a deal in which you commit to renting a property for a specific period of time, with the option of buying it before the lease runs out. Rent-to-own agreements include a standard lease agreement and also an option to buy the prop#erty at a later time, at a fixed price. Our product is via a National respected Company ad our recommended broker are one of the few brokers given access to it.

What is the basic eligibility criteria for Rent To Buy?

You will need to be over 18 and have the right to live in the UK. We will also do an industry-standard check on you using secure and modern technology including:

Verifying your income and outgoings (using Open Banking)
Checking for fraud and bankruptcy (using Credit bureaus)
Reference checks with landlords and employers
How is my maximum budget calculated?
It’s based on your income and where you want to live. We want to make sure it’s something you could afford, and is not capped at four and half times your income like traditional mortgage lenders.

Will I Need A Deposit?

No, just money to cover initial fees charged by the Rent To Buy company, starting from £999. Plus a small arrangement fee from ourselves, typically £499. The Rent To Buy company pay all other costs and legals etc.

How are my monthly payments calculated?

Your monthly payments are based on the value of the home and typical rental amounts in your area for similar properties. Also, up to 25% of your monthly payments are converted into reducing the future buy-back price you pay for the home later.

These figures are fixed for the agreement term.

A minimum household income of £30,000 per annum is required.

Expert advice is available, without obligation. Contact us now.

This scheme is available through our recommended brokers WITHOUT a waiting list, the Rent To Buy company themselves has a waiting list of many thousands. BUT as a preferred broker they get immediate access. Contact us now for full details and FAQ’s.

Available nationwide. Properties bought through ourselves on a Rent To Buy basis are NOT subject to the potential buyer transaction fee.

Traditional mortgages inc 95% are available too including for First Time Buyers