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Rent to buy scheme
cottonhead
Posts: 696 Forumite
We live in a house that is too small for our needs and an officer is coming next week to verify it so we can apply for a shared ownership property. We own this house but there isnt enough equity for a deposit for a bigger house - hence the shared route.
Having read about different schemes I am wondering if the buy to rent scheme would be a good one. I am unsure that we would get a mortgage right now and thought that the 5 year period where you rent would allow us time to imrove our credit rating to then purchase a share in the property.
Has anyone got experience of this scheme ? It seems like an option now but I worry we might get stuck later on....
Having read about different schemes I am wondering if the buy to rent scheme would be a good one. I am unsure that we would get a mortgage right now and thought that the 5 year period where you rent would allow us time to imrove our credit rating to then purchase a share in the property.
Has anyone got experience of this scheme ? It seems like an option now but I worry we might get stuck later on....
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