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Is This Buying Or Renting?

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http://www.primelocation.com/uk-property-to-rent/details/id/VIUM8665182/?utm_campaign=email-propertyalerts&utm_medium=email&utm_source=propertyalert&ea=1

So you rent for 750 GBP but still have to find a further 300GBP if you take the option to buy?

What sort of salary would you need to pay 1050 GBP a month, surely you'd expect something better than this.

The house is in a poor area of Cornwall and on a busy main road. It states that a lot of work is needed as well.

With an asking price of 250,000 and having to refurbish as well, I'd hardly call it a bargain. There's no garage either.

Has anyone else seen this? Is this some sort of scam?

Cheers.

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http://www.primelocation.com/uk-property-to-rent/details/id/VIUM8665182/?utm_campaign=email-propertyalerts&utm_medium=email&utm_source=propertyalert&ea=1

So you rent for 750 GBP but still have to find a further 300GBP if you take the option to buy?

What sort of salary would you need to pay 1050 GBP a month, surely you'd expect something better than this.

The house is in a poor area of Cornwall and on a busy main road. It states that a lot of work is needed as well.

With an asking price of 250,000 and having to refurbish as well, I'd hardly call it a bargain. There's no garage either.

Has anyone else seen this? Is this some sort of scam?

Cheers.

Ah, 'tis the sweet smell of desperation with a whiff of bluebells in the background :lol:

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The purchase price is fixed at the outset. You gain from any price growth. :lol:

That bit is wishful thinking.

...work it out. :lol:

£750 per month = 333 months =28 years.....if that is not a mortgage I don't know what is.

The purchase price is £250,000

Minimum deposit of £1!!

The normal rent is £750 per month.

You will pay a minimum of £750 per month.

Every month you pay an additional £300 ‘top up’ towards your deposit. After 5 years you will have saved £18,000 towards your deposit and we will give you £7000 which will give you a 10% deposit of your purchase price of £250,000.

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So it is £250,000 to buy this house and it requires renovation.

What a bargain. Still it's a good job the current owners didn't buy at the peak, or else it really would appear that they are in trouble:

04/05/2007 £180,000 Beth An May, East Hill, Tuckingmill, Camborne, Cornwall, TR14 8NQ

Oh dear.

EDIT to add: It appears Property Bee also works with Primelocation. I wasn't aware of this.

Edited by hpc-craig

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This sounds like the new rent-to-buy scheme that's currently doing the rounds. There was an article to this effect on the blog a week or so ago; i'll try and dig it out.

Oh, and yes, if it looks like a scam etc.

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This sounds like the new rent-to-buy scheme that's currently doing the rounds. There was an article to this effect on the blog a week or so ago; i'll try and dig it out.

Oh, and yes, if it looks like a scam etc.

Only in the sense that it looks overpriced.

In the legal sense, it's a perfectly OK deal.

tim

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Only in the sense that it looks overpriced.

In the legal sense, it's a perfectly OK deal.

tim

But of course, the majority of the property bubble was built on strictly legal foundations; doesn't make it any less of a scam though.

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http://www.primelocation.com/uk-property-to-rent/details/id/VIUM8665182/?utm_campaign=email-propertyalerts&utm_medium=email&utm_source=propertyalert&ea=1

So you rent for 750 GBP but still have to find a further 300GBP if you take the option to buy?

What sort of salary would you need to pay 1050 GBP a month, surely you'd expect something better than this.

The house is in a poor area of Cornwall and on a busy main road. It states that a lot of work is needed as well.

With an asking price of 250,000 and having to refurbish as well, I'd hardly call it a bargain. There's no garage either.

Has anyone else seen this? Is this some sort of scam?

Cheers.

Housing benefit?

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You get these idiot dreamers all over the place.

A friend selling a farm in Mid Wales was offered the following deal by a would be purchaser.

Basically he agreed the purchase price but wanted to take over the farm, live there and farm it for 5 years free of all charges, and then pay cash for it after the 5 years!

He seemed to think my friend quite unreasonable when he rejected the offer.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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