A custom solution
Keen to sale but can't because you have little nor equity?
Can't sell at below the current market value?
Are you in mortgage arrears and or facing repossession?
Need to move on immediately without the burden of mortgage payments?
Then we can help
We provide a number of imaginative solutions using lease options.
We take the time to discuss your needs and explain in detail how such options can help you. Each solution will be uniquely tailored to your requirements.
What is a lease option?
A lease option is a relatively new and totally legal way of buying residential property. This concept has been used for many years in the commercial market securing the right to buy a property without having to put large amounts of money down as a deposit.
An example of how a lease option works
Your property is on the market for £120,000
Your outstanding mortgage is £100,000 and your monthly payments are £800.
In order to attract interest you may have to reduce the price to probably £100,000 to attract any interest.
That means you will not make any profit at all from the deal and it could take you 6 months to a year to sell your property. During this period, you will continue paying your mortgage.
However, you could agree to grant us an option to buy your property for £110,000 within the next 5 years. Meanwhile, we'll take over your mortgage payment of £800 a month. Should we choose to exercise the option to buy your property anytime within the option period, you would make £10,000 after paying off your mortgage of £100,000.
Should we choose not to exercise our option to buy the property at the end of the period for any reason, the property would just be returned to you, probably with a number of improvements. In that time you would have benefited from a long period of not paying your mortgage, plus you would have seen major capital growth in your property.
The service is free and will take on average 28 days to complete.
For further information please contact us by phone or using the contact form supplied.
Contact us today!
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