What is a Rent To Buy?
In summary, it is an Agreement where a property can be rented for a specific period of time (usually 2 years), with the option to purchase the property for a pre-agreed price. All rental payments made during the rental period are deducted from the pre-agreed sales price at the time of purchase.
See currently available Rent to Buy properties
The four key components to the Agreement are:
- Price of sale
- Initial deposit
- Monthly rental payments
- Term within which to purchase the property
There are many advantages in the Rent to Buy scheme, both for the buyer and the vendor.
For the buyer, it makes it possible to ‘try before you buy’ knowing that any rental payments will not be lost but will be deducted from the sale price at the end of the rental period.
The main benefit for the vendor is that they will receive an immediate income from their property, with a potential sale at the end of the rental period.
We offer a dedicated service to our buyers and sellers so if you are interested in this option, please Get in Touch to find out how we can help.
