Fully Financed Deposit Anyone? Government Practically Gives You Yours!

There has never been a better time to buy property, using more alternative methods, if you are flexible and have some nerve.  And I’m not talking about risk here, but the nerve to look and then take action outside the box.

In addition to the excellent model of securing your next home for todays lower prices on an option to buy in the future, while living in said future home and having your rent deducted from the eventual purchase price (aka rent to own or rent2own) you now have another very attractive alternative.

We have recently heard about a brilliant – and not very well publicised yet – scheme that the government have launched, to help first time buyers get onto the housing ladder – totally different from shared ownership schemes and which means that you can CHOOSE the property you want to live in, and then get help to buy it  Anywhere!

Open Market HomeBuy is a low-cost government-backed home-ownership programme that aims to help people to secure 100% funding of the value of their first home. It is a flexible equity loan scheme designed to help households earning up to a maximum household income of £60,000 a year to buy their own homes on the open market.

There are two Open Market HomeBuy products, which are designed specifically to help local authority and housing association tenants, key workers and others who are not able to afford to buy a suitable home in an area where they live or work without assistance.

Both products are available throughout England and have been designed to suit a wide range of personal circumstances.

MyChoiceHomeBuy / Ownhome

Ownhome is provided by a partnership between Places for People and the Co-operative Bank and is part-funded by the Government. Places for People is an equity loan provider in its own right.

Key features of Open Market HomeBuy

• You can choose between two distinct products, MyChoiceHomeBuy and Ownhome;
• You can borrow between 15% and 50% of the value of the property at a low, or no, interest rate;
• If you qualify for a mortgage of £110,000, for example, you could potentially purchase a property worth up to the current national house price average of £220,000;
• If you took up MyChoiceHomeBuy, you could get your conventional mortgage from a range of lenders; and
• If you opted for the Ownhome product, you would have a five-year interest-free period on your equity loan.

For both products, when repaying the equity loans, you would have to share any increase in the property’s value with the equity loan provider.

READ MORE HERE >>>

There are private initiatives doing a similar thing, and there is a company in Manchester, established 16 years ago, who offer a similar service to first time buyers, except that the interest amount paid on the deposit loaned is EVEN LESS!

And they offer a similar service to investors.

Why would they do that, and how do they make their money, I can hear you ask?

I’m like you – I ALWAYS want to know how folks make their profit and once I do, I feel a whole lot more comfortable.

By buying large job lots of property, wholesale, from the banks and building societies where they are repossessing, and then selling onto investors at a profit – but still essentially at wholesale prices.  That’s how.

Find out more about that here >>>

Exciting time ahead in property methinks.

Property For £1 – My First One!

Welcome to the world of buying UK property for just £1.  Here is the first deal I have done, within 3 weeks too!  This is fast and fun……and the best thing is, you are helping people who can’t sell (without beating them down on the price) and helping people who can’t buy due to not having enough deposit, or being able to qualify for a mortgage.  Here’s the info: 

Charming 2 Bedroom Cottage To Let in Littlehampton, West Sussex.

Stop!  Think about this for a second……….why rent when you can buy?

I am offering a lovely two bedroom cottage in Littlehampton to let, on a “Rent 2 Buy” or premium rental basis.  If you are a first time buyer but can’t afford the normal deposit, or get a mortgage in today’s market, this could be perfect for you! 

Click here for a 4 minute, streaming video, tour around the property….

[youtube:http://www.youtube.com/watch?v=olzAhu5_XEc]

The house is offered at £220,000 and you simply pay a 5% deposit, and then instalments of £1283 per month, and this lovely cottage could be yours in 2-3 years.  No mortgage required but you will need to provide work references and some other financial details.

Close to Central Littlehampton, with great road and rail links across West Sussex, in a very quiet private road, and a lovely secluded walled and gated garden – perfect for children.  The whole cottage faces South/West and is very light and sunny.  Fully refurbished thoughout, the cottage has a living room with open fire and beamed ceiling, double glazing and gas central heating.  There are two good sized bedrooms, lovely refitted modern kitchen with modern wood units and integrated cooker/hob, a hall/dining room, bathroom with white suite and seperate toilet upstairs.

Have a look at the video and if you would like to view this cottage, call me for more details on 01273 910986.  Stop paying dead rent and take your first step on the property ladder.

** Put your name and email in the box to the top right to get a Free Report on how “Rent2Own” works in the UK and join our priority Property List for 1 bed, 2 bed and 3 bed Worthing, Shoreham & Littlehampton properties**