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OLDFTB

Launchpad Homes

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Have a look and see what you think:

"1. You register your details and let us know what kind of home you’re interested in and where. We have homes right across the North East, so we’ll be able to find just what you’re looking for.

2. Next, you rent for 12 months at the current market value – and then you get the option to buy.

3. If you do, all the money you paid in rent serves as your deposit – while we pay your stamp duty and legal fees.

In other words, you effectively live rent-free for a year and end up with your own home.

The property is your home from day one, so you can even choose your carpets for free. What’s more, we have specialist lenders who can arrange your mortgage for you.

In other words, it makes getting onto the property ladder as easy as 1, 2, 3. "

http://www.launchpadhomes.co.uk/

Haven't heard of the concept myself.

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If it looks to good to be true mate, it probably is. So whats in it for the vendor? Or are you being asked to pay £120k for a £100 house?

Whatever the deal is, it triggers my Scam Alert alarm in the back of my head somewhere.

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If it looks to good to be true mate, it probably is. So whats in it for the vendor? Or are you being asked to pay £120k for a £100 house?

Whatever the deal is, it triggers my Scam Alert alarm in the back of my head somewhere.

I agree.Theres got to be a catch somewhere.

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I agree.Theres got to be a catch somewhere.

I couldn't see much detail on the site about what "specialist" lender you need when taking out the mortgage at the end of the 12-month rental.... doesn't say whether you have to take the mortgage they give you or whether you can choose your own.

If you have to go with theirs, maybe you could end up on a bad rate which is locked in for a few years.

Of course, I could be completely wrong.... :ph34r:

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The catch is "current market value"

A lot of these sh.itty ideas are going to be surfacing in the near future, especially with the housing market turning negative soon. This locks you into today's price.

BUYERS BEWARE

IF IT SMELLS OF DOGGY POO, IT USUALLY IS.

Edited by Pluto

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  • 301 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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