4 Bed Detached House, Clarence Road, PE13

Can you afford to pay monthly rentbut can’t get a mortgage to buy your home?

 

Then Rent this four bedroom familyhome, with conservatory, garden and parking Now and Buy it Later! This detached house comprises of fourbedrooms with master bedroom en-suite, family bathroom, three reception rooms,kitchen with utility area and enclosed garden.

 

This is an opportunity for first time home buyers to get on theproperty ladder.

 

Benefits of Renting Now and Buying Later:
- Future purchase price and your rent are fixed till June 2019,  so you pay the fixed agreed purchase price when you are ready tobuy your home rather than the appreciated value of the property.

- You are free to update your home and you benefitfrom any future capital appreciation.

- You will own your home 100% when you are able toget a mortgage to complete on the purchase.

- You have the opportunity to build up equity inyour home before you even get a mortgage.

Family residence, this property has subsequently been extended the current owners, in particular to create kitchen with a utility area. The accommodation sits over two floors but rooms that can be used as bedrooms can be found on all floors, with the option of having up to five bedrooms. 
The property is approached via share gravel drive leading to a gravelled parking area. Once inside the property you will find an open reception hall, dining area, kitchen with utility and downstairs cloak room and a conservatory. 

The kitchen boasts a wealth of specifically made wall and base units with work surfaces and a space for a range of appliances including integrated fridge freezer, oven and grill and plumbing for washing machine and a dishwasher. 

Steps to the first floor landing with doors to four double bedrooms, airing cupboard and a family bathroom. Master bedroom is fitted with Hammonds over bed wardrobes and access to the en-suite. The property provides space and a scope for a new family to put their stamp on it and is offered chain free.

FEES:

(1) Holding Deposit:
After viewing and you decide to rent the house so you can buy it later, youwill be required to pay £75Holding Deposit to reserve the house while references and credit checks arecarried out on all adults that will live in the flat. After obtainingsatisfactory references and checks, the Holding Deposit will be treated as partof the first month rent. However, if the reference or credit report areunsatisfactory your money will be refunded to you less £20, being the cost ofcarrying out credit check and referencing.

(2) First month rent: You will be required to pay the balance of your first month rentof £ in advance before moving in.

 

(3) Down payment: You will be required to pay £750along with your first month rent as down payment for the house before movingin. Down payment covers the cost of fixing the rent and purchase price tillJune 2019. It goes 100% towards the purchase price of your home and it is nonrefundable.

Within three months of moving in, you will berequired to pay the balance of £750,to make up the required £1,500 down payment before you get the Rent-to-Buy Agreement that givesyou the option to buy your home at the fixed price. Without the Rent-to-Buyagreement, you are an ordinary tenant with no right to buy the house.

 

Please Note:

(1) The downpayment is nota security deposit. It is a non refundable payment that goes towards thepurchase of your home, i.e. it is credited 100% towards the purchase priceof your home.

Just as down payment madeto exchange contract with a seller in traditional home purchase is nonrefundable, in the same way down payment is non-refundable in a  rent tobuy home purchase.

 

If you can’t or decide not tocomplete on buying your home, you are free to sell your right to buy itand you could make profit if your home has appreciated in thevalue, otherwise you will lose the down payment paid.

 

(2) Our Rent-to-Buyagreements are drawn by property lawyers, so after you move in, you willneed legal representation before you sign the legal documents that give you theoption to buy the flat.

 

  

All applicants will be required to provide the following:

(a) Proof of identification -Valid passport or biometric Residents Permit

(b) Proof of current address -Bank or credit card statement or utility bill issued within the last threemonths. [Mobile phone or council tax bill not accepted]

(c) Last three months pay slips

(d) Last three months bankstatements

 

Contactus for more information