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Rent to Buy
ajide
Posts: 15 Forumite
Is anyone currently on this scheme? I am looking at going on this scheme as I have been recently declined for a mortgage.
The flat is new and will cost £580 to rent a month. I earn £23k at the moment.
Should I jump on this and whilst renting, save up to buy it in the future?
The flat is new and will cost £580 to rent a month. I earn £23k at the moment.
Should I jump on this and whilst renting, save up to buy it in the future?
0
Comments
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Sorry don't have any experience of this scheme, you'll have to look into it very carefully to see what your obligations and options are. What happens if house prices go up/down (new builds often go down). If you want to move within the initial periods. Is there a time limit where you HAVE to buy or move out? What if you don't have the funds by then. Would you need a special mortgage if you do buy. Are you buying a leashold, what are the conditions of the lease, can it be extended?Changing the world, one sarcastic comment at a time.0
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