A new way to buy property is in its infancy in the UK, buyers and the general public are not fully aware of this brand new option called Rent To Buy.
It's an exciting concept and I am not sure where else in the world people Rent To Buy and the experiences that they have had. For me as an observer of everything real estate it seems like the silver bullet for those that cannot afford the huge deposits that are required today.
I believe that the Rent to Buy option is set to change the way buyers finance a purchase of their home and is set to take off in the UK, pundits are saying it is oneof the best ways to get on the property ladder .
So Why Rent to Buy?
The credit crunch has resulted in lenders becoming more stringent with their lending criteria. This has resulted in many people without large deposits or squeaky clean credit history unable to buy their own homes with a mortgage.
The Advantage of Rent To Buy
Makes the rent you pay turn into a worthwhile lump sum
Great for first time buyers
Ideal for those struggling to saving a deposit
Suitable for new Resident to the UK
Good for people with poor credit history or no credit track record
So what are the downsides?
Its difficult to find the disadvantages unless you know of any would be good to hear your comments
Note: Rent to buy is also known as Rent Now Buy Later, Rent2Own,Rent-to-Own, Try Before You Buy,Rent and Own,Own Now Pay Later,
