GOT THE INCOME BUT NOT THE DEPOSIT

Have you just woken up this morning filled with the realisation many of us have – “all the rent I’m paying is going into a bottomless pit”!

Many of us have been forced into a situation where we have to rent when all we want is the opportunity to get on the property ladder.

The most common hindrance is that although we may have savings they are not sufficient to make a deposit on a property while lenders are asking for 30% deposits and a squeaky clean credit score!

Well, you may need to be aware that there are solutions available and one that is turning the market round is becoming a “Tenant Buyer”.

The key elements of a Rent to Own property are:
* A fixed purchase price, with an option to buy in 3 years or less.* Pay a one off deposit, deductible from the fixed purchase price.* Pay a ‘Top Up’ rent acting as credits deductible from the fixed purchase price.*You can make any desired improvements to the property

The benefits of a Rent to Own property are:* An agreed fixed purchase price, set in stone with no fluctuations, no gazumping, no nonsense.* Pay an affordable rent that reduces the final purchase payment, aiding the deposit required by major lenders.* Obtain a certain credit history that satisfies all mortgage lenders. Note: By proving your able to rent and pay on schedule and on time, gives major lenders confidence that you are a good reliable payer.* Live in your house from day 1, so there is no need to move to another area.* No trawling of the many property websites and pounding the streets viewing unsuitable properties.* Your safe in the knowledge that you’ve already found your home and build for the future.* Gain equity in your home before you own the property. As property prices adjust you will directly benefit from fixing your purchase price today.
Rent to Own or becoming a tenant buyer is ideal if:

- A first time buyer struggling to get onto the housing market - Struggling to raise a large deposit - Currently renting but want to own your own home - Have impaired credit and can't raise finance - Have recently moved to the UK No mortgage is required whilst renting/buying.
Contact Duncan Belton Nest Egg Homes or check out www.nestegghomes.co.uk