What is a Help to Buy Scheme?
RENT MY HOME TODAY - RENT TO BUY SCHEME
- Newly Built Homes
- 100% rent contribution goes towards the deposit
- We offer minimum of 2 and a maximum of 3 years
- You buy the full property
- Purchase price is locked in from day one so you benefit from any price appreciation of your property.
GOVERNMENT HELP TO BUY SCHEME
- Newly Built Homes
- Homes are made available to rent with a shorthold tenancy at a reduced rate of 20% less of local market rents
- Government scheme offers from 6 months to 5 years
- Government scheme allows you to buy part of the property (Shared ownership)
- Government scheme you purchase the property at the market value at the the time of purchase.
100% of the monthly rent paid go towards your deposit to purchase the property?
Get onto the property ladder and get in touch with us today.
This Rent to Buy scheme truly is one of the best scheme that we have come across and is genuinely helping people get onto the property ladder.
You get a new home where 100% of your monthly rent goes towards your deposit and the purchase price is fixed today rather than in 2-3 years time.
Our Rent to Buy Homes and Properties
NOTTINGHAM
Flats 1-7
41-43 Church Street
Eastwood
Nottingham
NG16 3HP
The location is about 9 miles outside Nottingham centre and also 9 miles from Derby.
How does our Rent To Buy Scheme Work?
To find out more about how you contribute 100% to your deposit and what amount you need to pay towards the overall cost of the property, please find an example outlined below...
- Your new home value is agreed at £120,000.
- From this your 15% Deposit sum will be £18,000.
- Your £18,000 deposit will be split into equal payments over a 36 month period = £500/month rent.
- This monthly payment goes directly against deposit for the property.
- The AST is fixed for minimum 2 years by which time you can exercise your right, or option to buy, or can choose to continue to carry on paying for a further year to bring your overall mortgage value down.
- £120,000 less £18,000 after 3 years is £102,000 and if the property value increases then you would benefit from the appreciation.
- If you, the purchaser, choose not to exercise your option after 36 months then you will need to, in effect, hand back the property and all your contributions will be classified as rent and therefore not returned - which is what you would have paid out for on normal monthly rent.
How do I know I am eligible for Rent to Buy with you?
You are eligible if:
- Your household earns close to £25,000 a year. A household can be one person, or you and a partner or you and a friend
- You are a first time buyer, or you used to own a home but don't anymore.
- You must live in the property.
- You cannot sublet or sublease the property.
- The cheapest flat is £120,000 therefore be able to pay £500 a month.
- You cannot be a current home owner but in some instances the developer may consider you if your name is on the deeds of another property.
- You must not have any outstanding credit issues (i.e. unsatisfied defaults or country court judgements).
Ready to enquire about our Rent to Buy service?
Use the form below to email us about our listed properties above, or alternatively you can call us on 03333 449903
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