***THIS ONE HAS NOW GONE - BUT WE HAVE PLENTY OF OTHER SIMILAR PROPERTY DEALS AVAILABLE*** REGISTER WITH US AND LET'S GET YOU MOVED ASAP!***
Ainsworth Lord Estates are delighted to be offering for 'rent then buy' this larger than normal 2 bed, mid-terraced property that has just been refurbished.
Perfect for wannabe FIRST TIME BUYERS! who only think they can rent. Buying is more in reach and more affordable than you think to buy your first home. See below for more details.
This property situated in the Lynwood Area of Darwen, and has just been refurbished by the current owner.
It has two large Double Bedrooms, 2 Reception Rooms, a Brand new modern fitted kitchen and modern bathroom. There is a large rear yard that has been landscaped to create an interesting low-maintenance recreational area.
Additional Property Information:
A brand new Gas Central heating system has been installed.
New Carpets & Decor throughout.
Modern Howdens kitchen with built-in oven, hob and extractor.
Modern bathroom with electric towel radiator and electric shower over the bath.
Upgraded electrics, including a brand new Consumer Unit.
This property is waiting to make a lovely home for someone.
SO YOU WANT TO BUY YOUR FIRST HOME, but think it's not possible?
We at Ainsworth Lord Estates know this is a huge misconception, and want to dispel this myth!
Many wannabe first time buyers don't believe this is possible for many reasons.
Owning your own home is very easy and very possible...and even if you don't have a perfect credit rating.
We want to help as many wannabe first time buyers make their dream a reality.
Here are some illustrations on how affordable it is to own this property..
Purchase Price - £75k
Deposit - 5% - £3750.
Mortgage Payments would be £258 pcm
(With a mortgage from a mainstream lender with a rate of 2.59%)
Deposit 10% - £7500.
Mortgage Payments would be £216pcm
(With a mortgage from a mainstream lender with a rate of 1.79%)
Deposit 15% - £11,250.
Mortgage Payments would be £196 pcm
(With a mortgage from a mainstream lender with a rate of 1.54%)
Deposit 20% - £15,000.
Mortgage Payments would be £185 pcm
(With a mortgage from a mainstream lender with a rate of 1.54%)
Deposit 25% - £18,750.
Mortgage Payments would be £169 pcm
(With a mortgage from a mainstream lender with a rate of 1.37%)
Please note the above illustrations are real examples of what the mortgage payments would be for someone with a good credit rating at the time they were generated (Mid-Dec19) . All Illustrations are from mainstream lenders and are subject to change depending on personal circumstances, interest rate changes, and availability.
Remember your home will be repossessed if you fail to keep up your mortgage payments.
Q. I don't have enough deposit?
A. We can help with this. This is not a problem.
Q. My Credit Rating is not perfect?
A. This is not an issue in most cases, chances are our broker can still find a mortgage for you but the mortgage interest rate and monthly payments will be a bit more.
Q. If I check to see if I am eligible for a mortgage with Ainsworth Lord Estates recommended broker will it register on my credit file?
A. No our mortgage broker will be able to see if you are eligible for a mortgage without leaving a mark on your credit file, so you have nothing to worry about.
Q.My credit file is not great at the moment but it will be soon, what should I do?
A. Contact us as we can still help, you may be able to rent this house for a time and then buy it when your credit file is ok.
Q. Can I rent this house first?
A. Yes we can discuss this. The rental amount will be £500pcm. We will agree a time scale on how long you can rent it for and when you must by this house.
See the specific criteria for 'rent then buy' properties below.
Q. What costs are involved in buying this house?
A. Most Mortgage Brokers charge a fee. We recommend you avoid brokers that charge a fee.
Our mortgage broker is one of the largest brokers in the UK with access to more lenders products than most other brokers and it is completely Fee Free. PLUS as a customer of ours you will be eligible for Free Insurance to cover you for expenses incurred should your purchase not be successful.
So there are no Mortgage Broker Fees.
You will have legal costs for the purchase... we recommend several local law firms with competitive rates.
Removal Costs - but maybe you know a man with a van that can do you a favour?
Q. How much will my House Insurance be?
A. We expect Buildings & Contents Insurance for a property of this type to be less than £200 a year, and less than £20 per month.
Q. I have seen another property I'd like to buy but didn't realise it is so easy, what should I do?
A. Get in touch with Ainsworth Lord Estates, we can make your dream possible.
So what do you do next?
If you have a half-decent credit rating we suggest you book a viewing asap and we can take it from there..
Don't worry if you miss this one, or it's not for you, as we have more and more properties coming available over the next couple of weeks perfect for First Time Buyers.
Our aim is to get as many wannabe Home Owners into their own homes in 2020.
Criteria & How it Works for 'Rent then Buy' Properties:
1. You will need a good (or half decent) credit rating, so we can help sort you a mortgage with our Fee Free Mortgage Broker.
2. You need to be working or have a genuine income (excluding benefits)
3. Our mortgage Broker will do a check to see if you are eligible for a mortgage (this will not be recorded on your credit file)
4. You will need a Home Owner Guarantor to support the renting part of this process.
5. You will need to be able to put down a deposit towards the purchase of at least 2.5% of the purchase price (so for this property that is: £1875, plus the equivalent of a month's rent (£500) this totals £2375 before you move in.
6. You will need to go through our lettings application process.
7. Our Mortgage Broker is able to access borrowing for up to 5 x your salary from many main stream lenders, subject to your circumstances.
8 After we have reviewed your application we will then discuss how long you will rent the property for before you actually buy it... for some applicants you may be able to buy it immediately if you have enough deposit in total. For other applicants who perhaps don't quite have enough deposit we will agree a timescale - this may be 6 months, 12 months or a year or more..
9. Once everything is agreed it will be sent to legals for the contracts to be drawn up, whilst we agree a move in timescale.
10. It is important to know once contracts are signed and you move in the house is almost your own. You are responsible for all property maintenance, insuring the property and keeping it in good order until the transfer of ownership is complete.
No doubt you will have many other questions - a member of our team will be able to answer these.
ALL VIEWINGS ARE TO BE ARRANGED THROUGH AINSWORTH LORD ESTATES AND ARE STRICTLY BY APPOINTMENT ONLY.
ALSO, PLEASE BE ADVISED THAT WE HAVE NOT TESTED ANY APPARATUS, EQUIPMENT, FIXTURES, FITTINGS OR SERVICES AND SO CANNOT VERIFY IF THEY ARE IN WORKING ORDER OR FIT FOR THEIR PURPOSE.
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