Rent To Buy
Mayfair Property Solutions
property, mortgage, solutions
How it works
You find a Rent to Buy property you like in our property selection and arrange a suitable time for viewing. If you like the property, you then enter into a Rent to Buy agreement with the Seller.
You agree with the Seller what period you would like to take the agreement over and agree the amount of starter deposit and monthly rental.
The relevant agreements are drawn up by solicitors along with the assured Shorthold Tenancy Agreement for the duration of the Option.
You move in and are free to enhance and add value to the property during the period as any traditional home owner would.
At the end of this period or before you purchase the property at the previously agreed price and any equity the property has gained is all yours.
As a Tenant Buyer you are not obligated to purchase the property at the end of your Option period.
If you have paid a small deposit to the purchase price you can sell on your option should you decide not to purchase.
The Seller is required by law to sell the property to the Tenant Buyer should the Tenant Buyer choose to exercise the Right to Buy during the option period.
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