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What are the thoughts on private schemes? Other than the ridiculous interest rates some charge - some joker in kent was charging £850pcm rent on a flat that would be owned after something like 70 years because there was a £444.44 monthly administration fee, 300 rent and only the rest going towards the house!, so the pricing model was something like 750k for a 2 bedroom!
Something like www.renttobuy.co.uk - they seem to be the biggest. Although they're mainly northern properties so not much use to me at the moment.http://renttobuy.co.uk/propertyDetai...propertyId=358 for example. 'Law Society Approved', if that actually means anything... obviously my income & bankruptcy mean I'm not going to get a mortgage any time soon, but I could get say a 10k deposit for a property like that, and even £750pcm wouldn't be too much of a struggle on my wages.
Or http://renttobuy.co.uk/propertyDetai...propertyId=335 which is a more reasonable 60-90 minute commute...
I ask because I'm currently sharing somewhere I shouldn't be (not on tenancy etc), not particularly enjoying it, and paying £450 a month (although that includes bills).
Potentially I'm going to get put into an IPA, so paying over the odds rent wouldn't really affect me, since they're going to nab all my extra income from my promotion anyway! I'm where I am now to save money, but if I'm going to have an IPA I might as well get my own place (even if it is a traditional rental) and some security! That's why I looked into rent to buy etc. The government subsidized ones refuse to consider me - despite accepting my application (!!!). They ignored all my property requests, and only when I complained did they confirm I wasn't eligible and never would be while my credit scoring would fail... idiots.
Something like www.renttobuy.co.uk - they seem to be the biggest. Although they're mainly northern properties so not much use to me at the moment.http://renttobuy.co.uk/propertyDetai...propertyId=358 for example. 'Law Society Approved', if that actually means anything... obviously my income & bankruptcy mean I'm not going to get a mortgage any time soon, but I could get say a 10k deposit for a property like that, and even £750pcm wouldn't be too much of a struggle on my wages.
Or http://renttobuy.co.uk/propertyDetai...propertyId=335 which is a more reasonable 60-90 minute commute...
I ask because I'm currently sharing somewhere I shouldn't be (not on tenancy etc), not particularly enjoying it, and paying £450 a month (although that includes bills).
Potentially I'm going to get put into an IPA, so paying over the odds rent wouldn't really affect me, since they're going to nab all my extra income from my promotion anyway! I'm where I am now to save money, but if I'm going to have an IPA I might as well get my own place (even if it is a traditional rental) and some security! That's why I looked into rent to buy etc. The government subsidized ones refuse to consider me - despite accepting my application (!!!). They ignored all my property requests, and only when I complained did they confirm I wasn't eligible and never would be while my credit scoring would fail... idiots.
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