What is part buy/part rent deal?
Asked on Mar 2 2011,
General in Salcombe |
The benefits of Shared ownership (or part buy/rent) schemes are as follows
•Less deposit is required than with an outright purchase
•You will only need to secure a mortgage of 25-50% of the purchase price
•Monthly costs can be up to 50% less than buying a property outright
•First time buyers with a household income of less than £60k should be eligible for a Part Rent Part Buy scheme.
•Shared ownership schemes are available all over England*.
•As your income increases, you can choose to buy a greater % of the property
•Each scheme is completely different. Your property can range from a penthouse to a 1 bed apartment to a 5 bedroom house
Answered on Mar 3 2011,
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