Keep Your Home Ltd.

croc86

hugheskevi wrote: »

The main thing I would be asking is why does the company not just purchase repossessions, rent them out for 5 years, then sell if the company basically wants to speculate on domestic property.

Clearly it doesn't do that as it gets more money from whatever arrangement it enters into with the current owner, either in pure cash terms, or in the form of insurance in some way (ie if it can leave the current owner liable in the event property prices fall).

If you don't understand the business model, and exactly what you are paying for, it is almost certain it will cost you more than you think it will

That's exactly it...I don't understand the business model! Nor can I find anyone on the web who has delt with either this company or any other company that operates this way.

If this company is scamming then why have they not been closed down from being reported!? If this company is a scam I find it funny that they have chosen Trident House in Liverpool to claim as their headquarters, considering the size of the place!

MobileSaver

croc86 wrote: »

If this company is scamming then why have they not been closed down from being reported!? If this company is a scam I find it funny that they have chosen Trident House in Liverpool to claim as their headquarters, considering the size of the place!

It sounds like you are trying to convince yourself that this is legit and risk free despite everyone else warning you otherwise.

Trident House is just a serviced office building, any company whether a one man band or multi-national company can rent a professional looking image complete with receptionist etc. from Trident.

The company only started up a few months ago so if the business model is based on 5 years it's little wonder no one has reported them even if it is a scam.

In my opinion this will end in tears.

Bellalolo

Hi, Is this not what Rent to buy/ Property Lease option compananies offer?

I don't think they actually buy the property just take over payments hence wanting interest only.

Or could just be a scam!

croc86

Bellalolo wrote: »

Hi, Is this not what Rent to buy/ Property Lease option compananies offer?

I don't think they actually buy the property just take over payments hence wanting interest only.

Or could just be a scam!

I don't think it's anything like Rent to buy/Property Lease.

Yes, I am trying to convince myself that this is not a con as this is the only option left open to avoid having to take out a big loan so we can move.

It's a pity nobody here has not had experience of this kind of arrangement with this company or any other similar company for that matter. Which unfortunately points towards this being some kind of scam (I begrudgingly have to admit!):(

ILW

If you still own the property, you are not going to get a mortgage to buy the bigger place whilst the mortgage is still outstanding on this one.

_Andy_

Running_Horse wrote: »

Giving someone power of attorney over my home for five years?

They can then sell it for any price they like without my agreement or permission?

What can possibly go wrong?

It sounds like some Fonejacker sketch.." basically we take the house..it is totally legitimate sir..then we pay you the monies..then in five years we take the monies we have made..yes..my name is George"

GDB2222

"It's a pity nobody here has not had experience of this kind of arrangement with this company or any other similar company for that matter. "

Do you have any details of what these guys are offering? Details, as in a piece of paper stating exactly what they are offering and how the scheme works? How did you get to hear about them?

"Yes, I am trying to convince myself that this is not a con as this is the only option left open to avoid having to take out a big loan so we can move."

If I understand you correctly, you would be able to take out an unsecured loan so as to pay off the negative equity on this house. Is that right? So, just to make a concrete example:
The mortgage is £100k
The house sells for £90k
You take out an unsecured loan for £10k to pay off the balance of the mortgage.

Won't that still leave you having to find a deposit for the next purchase, or would you rent?

Running_Horse

Perhaps the OP would be better posting up their circumstacnes on the mortgage or DFW boards and getting legitimate advice, rather than walking eyes wide open into a scam because there seems no other way out.

RobertoMoir

You're kidding right? How could this *possibly* not be a scam.

propertyangel_2

I've never heard of this particular company but have come across the idea before. If it helps someone get rid of a problem today so they can move on with their life in exchange for someone else making a future profit, then its an option worth considering. Particularly for someone who wants to get rid of an expensive mortgage on a negative equity house. Of course there are other options such as renting the house out, or getting a loan to pay off the lender but at the end of the day it depends how important peace of mind is.