Homes With Options is not a real estate agent. We are a rental provider, offering flexible options and schemes on properties. We are experts in rent-to-own (or rent-to-own and rent-to-own for sellers), which is an efficient and flexible scheme that offers both buyer and seller individual options tailored to each property. Rent to Buy creates a unique contract for each property, which consists of a buyer buying a property for a fixed annual period, while living in the property and paying the monthly rent while saving and adding to the mortgage deposit.
By embarking on a flexible scheme, you will have complete peace of mind that your property is in good hands. We take full care of our buyers and sellers, making sure to meet their individual needs and criteria as they navigate the rental and purchase of property. We match the ideal buyers and sellers, with bespoke contracts that should satisfy everyone. We will also get in touch and be accessible for questions related to the property and the rent-to-own scheme.
With each individual buyer, we first assess their needs and ask them for certain criteria and what they want from their desired property. We will need to know certain information, such as how much money is saved for the potential property and how much the deposit would be.
For example-
John is a bar manager and earns £ 18,000, Becky is self-employed and can only prove £ 8,000 of her earnings, but will be able to demonstrate earnings of £ 16,000 on next year’s tax return. They also have a £ 6,000 deposit saved.
They would love a 2 bedroom house on a quiet estate and the median asking price for this in the chosen area is £ 129,995. Therefore, they must be sure that, in 2 years, they will earn enough to be able to obtain the mortgage they need. They can choose to continue saving for their deposit and / or ‘top-up’ on their rental payments.
If they completed their rental payments for just £ 100 per month, they would accumulate an additional £ 3,600 in 3 years and, together with their initial payment of £ 6,000, they would give them a deposit of £ 9,600 for the purchase price of £ 129,995.
We would also need to know what is the desired term for the seller and how long he would need to be in a position to buy the house. Homes With Options can also assess, based on needs, savings, and overall income, how long until the buyer can obtain a mortgage on the property. We can make each timeline and scheme unique, based on those needs and our assessment of the buyer.
Through Rent to Buy, the buyer receives general fair rates. We would base this on the amount of the deposit initially deposited and the total amount for which it was agreed to sell the property.
