Lease Option
With our Lease option you will benefit removing the liability of paying the mortgage on your property with little or no equity.
So how does it work? A lease option agreement involves a tenant being given the option to buy your property at an agreed price at the end of a given rental period, usually three to six years.
The renter-buyer pays a consideration up front, but at 2-3% of the market value of the property this is preferable to putting up a full deposit of 5-20% straight away.
- Leave mortgage payments behind
- Buyers can secure property with smaller deposit
- Suits those who can't get financing
- No valuation or legal fees
- No moving upheaval / expense
- Several possible options to help you
- Professional and Confidential service
Example of a Lease Option
|
| Home Value |
= £100,000 |
| Outstanding Mortgage |
= £85,000 |
| Credit Cards |
= £7,000 |
| Secured Loan |
= £8,000 |
| Monthly Payments |
= £560 |
| Total Debt |
= £100,000 |
| Lease Option |
| Offer to purchase home |
= £100,000 |
| Buyer monthly payment |
= £650 |
| Future purchase price |
= £120,000 |
Contact Property Renovations Ely now and we can help.
0800 058 2149 or fill in a quick response evaluation form.
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