Rent-To-Buy or Private Mortgages

caithomas44

Hi,

I am after any advice on Private mortgages or rent-to-buy schemes where you buy shares in the property over a 25 year period, as done by Genie Gentoo.

I am self employed but without 3 years accounts, we don't have a deposit but do have a sizeable income to buy a first house of around 5k a month between us, rising to around 6.5k in January.

I am looking for advice or leads on 100% private mortgages or rent to buy schemes where there is no mortgage.

In both occasions I am guessing that the mortgage or loan provider will also be on or hold the freehold until the mortgage/or shares are bought/paid off?

All help is greatly appreciated.

We have already inquired with Genie Gentoo, but they don't have any properties in this area (South West/South Wales) at the moment.

We are looking at around £350-300k

ACG

Can you not save up 5%?
You can then look at the help to buy schemes. There is a welsh version due soon i think.

caithomas44

I would prefer to go down the buying a % or a private 100% mortgage to start with as we would like to move sooner rather than later

ACG

Your going to find your options are very limited and you will probably also end up paying over the odds if you do it the way your thinking.

Nothing wrong with that if everyone is happy but im a bit stuck as to how much help i can offer with what your after.

caithomas44

ACG wrote: »

Your going to find your options are very limited and you will probably also end up paying over the odds if you do it the way your thinking.

Nothing wrong with that if everyone is happy but im a bit stuck as to how much help i can offer with what your after.

Thank you ACG,

It is a bit of a specialist product, I have made a few enquires with people who do offer the products.

If anyone has any leads then that would be greatly appreciated