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What is part buy/part rent deal?

Asked on Mar 2 2011, General in Salcombe | Report content

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  • 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, Report content

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