Rent to Buy in excellent area off Trimdon Avenue, Middlesbrough

• £120,000
• Location: 

  Acklam, Middlesbrough

• Posted: 03/09/2009 09:09

Tired of looking for a house you like but can't get a mortgage. Look no further......you can buy this house on our fantastic RENT now BUY later scheme. Please read the full details before calling on 01642 605537.

This is how it works

The purchase price is £120,000
Minimum deposit of £2000
The normal rent is £500 per month. Each month you pay an additional £150 “top up” towards your deposit.
In total you pay £650 per month.
Every month we match your “top up” of £150 per month which again goes towards your deposit.

End of year one

£120,000
-£2000 deposit paid
-£1800 (extra you have paid)
-£1800 (extra we have paid)

At the end of year one you would owe £114,400
At the end of year two you would owe £110,800
At the end of year three you would owe £107,200

During that time you have saved up a deposit of £12,800
Any improvements you make to the property you get the benefit.
If the value of the property has increased you also get the benefit.

Now lets have a look if you pay a bigger deposit and £50 more per month.

£120,000
-£3000 deposit paid
-£2400 (extra you have paid)
-£2400 (extra we have paid)

At the end of year one you would owe £112,200
At the end of year two you would owe £107,400
At the end of year three you would owe £102,600

During that time you have saved up a deposit of £17,400

The more you pay the quicker and bigger your deposit.
No mortgage is required until you buy in 2012. (but can buy at any time)

Price growth and rent deposit payments provide your deposit.
The purchase price is fixed at the outset. You gain from any price growth!
Redecorate, carry out home DIY - YOU benefit from any added value by enhancing YOUR home
This is not a shared ownership or Housing Association scheme
You can move into your new home in as little as 7 days!
Legally approved solicitor contracts.
We can help you get advice on your mortgage in 2012, or sooner, with your deposit fund.
Move in, and buy later - or walk away! You do not have to buy if you change your mind.

Perfect if you are either;

- A first time buyer struggling to get onto the housing market
- Struggling to raise a large deposit
- Currently renting but want to own your own home
- Have impaired credit and can't raise finance
- Have recently moved to the UK

No mortgage is required whilst renting/buying.

• With impressive outlook
• Two bed end of terraced house
• D.G & G.C.H system, lounge
• Kitchen/diner, no chain
• Garage and good sized garden
• Entrance Hall
• Lounge
5.82m x 3.63m
19' 1'' x 11' 11''
• Breakfast Kitchen
3.63m x 2.48m
11' 11'' x 8' 2''
• First Floor Landing
• Bedroom 1
3.60m x 3.26m
11' 10'' x 10' 8''
• Bedroom 2
3.62m x 2.48m
11' 11'' x 8' 2''
• Bathroom
• Front Garden
• Rear Garden
• Driveway
• Single detached Garage
• HIP AVAILABLE
• Views to the front elevation

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Location map: Acklam, Middlesbrough