Rent to buy Scheme

The rent-to-buy scheme in the UK presents various benefits designed to address challenges in the home buying process. A notable advantage is the gradual transition to homeownership.

Benefit: Gradual Transition to Homeownership

The rent-to-buy scheme allows tenants to rent a property with the option to purchase it later, typically after a fixed period. This arrangement enables individuals to live in the property, saving money over time and gradually moving towards homeownership.

A portion of the rent paid during the rental period can be set aside as savings or used for the future down payment, offering a more manageable path to homeownership.

This is particularly beneficial for those facing challenges in making an immediate down payment or qualifying for a mortgage, allowing them to save money, build credit, and stabilise their financial situation.

Addressing Key Problems

1. Difficulty Saving for a Down Payment: The scheme helps individuals overcome challenges in saving a substantial down payment, allowing them to accumulate funds gradually while renting.

2. Uncertain Financial Situation: For those with a stable income but uncertainties about their financial future, renting with the option to buy provides flexibility to assess stability before committing to a mortgage.

3. Credit Challenges: Individuals with less-than-perfect credit find the rent-to-buy arrangement accommodating, with more flexible credit requirements allowing them to improve credit while living in the property.

4. Market Uncertainty: In a dynamic real estate market, the option to rent with the intent to buy allows tenants to observe market trends and make informed decisions about proceeding with a purchase.

How it Works

1. We facilitate the acquisition of a property anywhere in the UK on your behalf.

2. Become our tenant, paying rent to us. Optionally, contribute additional funds towards the eventual purchase.

3. When ready, proceed to purchase your dream home with typically 2-3 years contract terms.

4. Experience a smooth transfer of ownership.

5. Benefit from our guidance throughout the process until you secure a mortgage.

Process

1. Select your desired property.

2. Move in comfortably.

Requirements

1. A minimum deposit of 10-15% is necessary.

2. Stable full-time employment or transitioning to a new job is a requirement.

3. UK citizenship is a prerequisite or actively working towards citizenship.

4. Must have funds set aside for stamp duty, typically around 3%.

5. Ensure availability of funds for legal costs.

Benefits

1. Effortlessly move into your dream home.

2. Welcome, even if you have bad credit.

"We're here to assist you in achieving homeownership. Let's talk about your dream home and how we can make it a reality."