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Just came across this little gem on a morning rightmove browse.

rightmove link

As I understand it from the blurb, You put £10,800 down as a deposit, then pay £1200 a month for three years (£950 rent and £250 to add to the deposit pot) so after three years you would have a total deposit of £19,800.

This certainly ranks as one of the most desperate strategies I have seen in my locality. I also find the continued inference that all the potential benefits are to the prospective owner. I quote :

Any improvements you make to the property YOU get the benefit.

If the value of the property has increased YOU ALSO get the benefit.

No mortgage is required until you buy in 2014. (but can buy at any time)

Price growth and rent deposit payments provide your deposit.

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

Redecorate, carry out home DIY - YOU benefit from any added value by enhancing YOUR home

Move in, and buy later - or walk away! You do not have to buy if you change your mind.

No mention of how hard it might be to get a mortgage in 2014 with an 8% deposit, what happens if the value of the property decreases in the next three years? can you renegotiate the price?

It sells very fishy to me. :blink:

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  • 338 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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