Terraced house to rent in Stoke-on-Trent ST6, 2 Bedroom

Description

Rent to buy

We have a superb opportunity to rent this lovely two bedroom Terrace house with the option to purchase. Get on the housing ladder with just a small upfront fee.

Don't miss out on this fabulous rent to buy opportunity, contact us now before it's too late!

The location which is particularly convenient for Burslem Town Centre with being walking distance, local factories and access to the A500 to Hanley City Centre.

Other benefits include GCH and double glazing throughout.

Rent to buy term: 5 years
monthly payment: £500
security deposit: £500
purchase price: £69,000
upfront fee £2,997 (non-refundable)

what is rent to buy?

The Rent to Buy scheme means that you can move into the home that you want to buy immediately by agreeing a fixed rental period together with a fixed purchase price at the end of the rental period and a monthly payment. At the end of the term, you arrange a mortgage and the property is purchased in the usual way and ownership transfers from the seller to the buyer.

For many people getting a mortgage, the conventional way just isn't possible. Many have the disposable income to afford a mortgage but lack the substantial funds to provide the required deposit.

Given the choice to rent or buy, we strongly suspect that most people would choose to buy. The Rent to Buy aims to help those looking to get on the housing ladder.

Rent to buy financials:

Rent to Buy Term - 5 years. This is how long you have to complete the purchase of the property. Often this is enough time for a buyer to gather the deposit and obtain a mortgage.

Monthly rent - £500. This is payable throughout the term and does not increase nor decrease.

Holding deposit of - £500. This a one-off deposit which is secured within a deposit protection scheme and will be returned to you in the event you purchase the property or decide to end the rent to buy agreement and vacate the property.

Purchase Price - £69,000. The purchase price is fixed from day 1 and does not increase nor does it decrease.
Based on the current mortgage average requirements of requiring a 10% deposit, you would need to save up £6,900 deposit for you to complete the purchase within 5 years.

Upfront commitment fee - £2,997. The upfront fee is payable prior to the Rent to Buy contract starting. This is the entry cost to buy into the contract.

There will be additional solicitor costs for legal contracts to be drawn up and finalised.

*Note: All money that is invested into a Rent to Buy property including the upfront fee and any improvements made to the property are non-refundable should you decide not to complete on the Rent to Buy purchase. You have the option to purchase not the obligation, so you have the right to decide against purchasing the property should you wish.

For more information please call to book in an appointment on .

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