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Easy Home Ownership???

(7 Posts)
petitmort Tue 24-Jul-12 11:22:47

Just wondering id anybody has heard about or used this company or viewed any of their properties:

They have various properties for sale on Rightmove on a small deposit and £X per month basis but I can't see any evidence of how many months the payments are for.... could be very fishy ... not sure.

petitmort Tue 24-Jul-12 18:27:33


I'm guessing it's some sort of hire purchase type scheme but rather than have to go through a big sales speel if I call them - I was hoping someone else might know how it works smile

Jcee Tue 24-Jul-12 22:40:39

No direct experience but having had a quick look at their website I'd be wary.

Looks like a long lease scheme (not traditional rent to homebuy where the rent is usually a bit cheaper to allow tenant to raise the deposit to eventually purchase) and doesnt have a lot of the key facts on their website like a standard lease and how it would work (length payments, what if you want to sell or cannot afford the rent or how is value of property fixed).

Also I can't understand why someone would take 2-3% ownership of a property leaving themselves with 100% of the maintenance costs.

Probably one to Steer clear

petitmort Wed 25-Jul-12 07:31:07

Cheers Jcee - that was what I was worried about - big red lights flashing and deafening alarm bells. Another on for the 'too good to be true' file.

JanetinTaunton Thu 25-Jul-13 12:04:54

Buying house with small deposit + monthly payments

I now know something about this.

If you can get a mortgage - great - go that route.

If you can't get a mortgage (self-employed like me, don't have good credit rating - like my friend Pete who had rented a house where a subsequent tenant didn't pay the phone bill; or haven't quite got the deposit saved up) - there are other ways to buy your home.

It is all done through standard paperwork and solicitors.

Get to know the person you are dealing with before you sign anything and start to build your credit rating so that you can get a mortgage a few months/years down the line.

Happy to share if it helps you.

Lahive1302 Mon 19-May-14 22:55:35

Do you have anymore on this ? I'm about to enter into this scheme as I will be able to get mortgage within the year and have a deposit I can't find anything negative on this scheme anywhere, please help as I'm investing money my recently deceased mother left me. On the face of it it seems kosher all donations of help gratefully accepted x

Carlyyd Wed 22-Jul-15 11:01:59

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

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