Properties-Required.com

RENT 2 OWN

How it Works

Example

Janet and John find a property that we are offering at the moment and want to enter into an agreement to purchase the property in 5 years time. This is what happens.

Today's market valuation of the property is £100,000

They will pay £107,000 for the property in 5 Years time. This price is Fixed at the start of the agreement.

If the property is worth more in 5 years time, say £125,000 they will keep the extra growth/equity.

They pay £2,995 upfront “Starter Money” (Rent to Buy Deposit) which will come off the purchase price at the end of the 5 year term.

The market rent for the property is £525, they will pay £495 rent per month for the duration of the 5 year term with NO INCREASES.

They can afford to pay an extra £69 “Top Up” per month on top of the monthly rent payment, again, these “Top Ups” will come off the purchase price at the end of the 5 year term.

We will match this “Top Up” pound for pound over the 5 years.

They live in the house for 5 years, treating it like their own home and then the day comes to complete the purchase, this is what happens.

The purchase price is £107,000

Janet & John need a mortgage for 90% of the purchase price which is £96,300

They will need a deposit of 10% which is £10,700

They have the original £2,995 “Starter Money” they put in at the beginning towards the deposit.

They have paid a monthly “Top Up” of £69 per month over the 5 years which equates to £4,140 towards the deposit.

They have the “Top Up” pound for pound match money, which equates to £4,140

In total £11,275 towards a deposit of £10,700 meaning we give you back £575 in your hand, plus if the property is worth more than the £107,000 purchase price, you keep that too…

So for £2,995 upfront and less than current market rent per month, Janet & John own their own home.

Still want to pay dead rent money?

Just call us on 0800 917 1383 for any suitable properties we have available or any properties in the future we may have available.