Rent to buy -help

Helpkerryplease

Hi all,

I have found a property I am interested in but it is rent to buy! This is not the government approved rent to homebuy scheme, but a potential private seller advertised on rightmove.
I am concerned about it being a scam!
Any info anyone could provide would be greatly appreciated.
I am a first time buyer, and a complete novice regards mortgages etc
The rent is especially high, but the deposit is low. I have contacted rightmlove regarding details, but what I have read on the Internet, indicates that we should expect a high rent as it is part interest and part capital towards the house price. Much like a repayment mortgage, with the option to buy after 5-10 years.
Any feedback would be greatly appreciated.

Thanks

lvm

I'm no expert but I know my Dad has a couple of properties he has rented out on a rent to buy basis. This was mainly to give him a wider range of tenants and made financial sense.

I'm guessing it could be that the owner has seen the house price value drop significantly and can't afford to sell it at what would be a reasonable price. Could be wrong though.

It can be complex and you would be advised to have your own solicitor look over the contract to make sure it's all above board.

Also, no harm in viewing and asking why he's chosen to do a rent to buy on the property.

HTH