You pay a small upfront fee and move into the property. You then pay weekly payments. You have a pre-agreed period of time on your rent to own agreement - usually between one to three years. Anytime within that period you obtain a mortgage and go through to settlement. At that time the property is yours! Whilst on the rent to own program part of your weekly payments is credited towards the purchase price. It’s that simple!
What are the benefits of rent to own?
- Only a small upfront fee is required
- No need to obtain a mortgage initially
- Gets you out of the rental trap
- Gives you time to take address any credit issues
- You have between one to three years to obtain a mortgage
- You build equity whilst you live there
- The price is locked in from day one
- You build up a payment history which can be helpful when applying for a mortgage
Currently only Corlette (next to Nelson Bay) and East Gosford (Central Coast - 40 minutes North of Sydney)
What is the upfront amount payable?
The larger the deposit you have the greater the chances of you being the successful applicant.
What are the weekly payments?
It depends on the value of the property and the amount of deposit you put down. Generally, the payments in line with what mortgage repayments would be.
Can I go through with settlement at any time?
Yes
What if I have credit issues?
Simply discuss them with us. We will let you know if they are a problem for us. More often than not they are not a problem for us.
What do you charge to pre-qualify someone?
Nothing
I’m note sure about this, what can I do to ensure I do the right thing?
We will provide you with references and testimonials and the paperwork can be sent to a solicitor of your choice. We are a very ethical company and take pride in what we do. We like to offer opportunities to nice people. It’s a win, win situation as it helps us to ‘move stock’.
Can you help me with credit issues?
We provide assistance to improve your credit record. It’s in our interest for you to qualify for a mortgage as soon as possible. What counts is what the lender sees on your credit report. We can often help to improve your credit report and we do not charge for this.
I am an ex-bankrupt, is that a problem?
No, not usually.
Do you have properties outside of NSW?
No
Are your properties good quality?
Yes they are but, then again, we are bound to say that. See for yourselves
Do you have many properties?
No, we mostly offer properties that we are building so we offer limited opportunties. You should register/pre-qualify as soon as possible
What do I need to qualify?
You and or your partner will need to be working. Simply complete the Application Form to find out if you qualify. There is no cost or obligation.
What would help us to qualify?
The higher your joint income the better and the higher your deposit the better.
I’m interested, what do I do now?
Complete an Application Form or just pick up the phone.