Rent Now Buy Later
140 Swinnow Gardens, Leeds LS13 4PQ
  
140 Swinnow Gardens, LS13 4PQ
Rent now, buy later.
Move into this house without getting a mortgage. With a £3,000 deposit you could be in within a week!
This is how it works
The purchase price is £115,000 and is fixed for 3 years.
You’ll need to pay a minimum deposit of £3,000 which goes towards your purchase
In Year One:
The normal rent is £600 per month for the first year.
Each month you pay an additional £120 “top up” towards your deposit.
For the first year we’ll match your top up of £120 per month which will also go towards your deposit
In total you pay £720 per month.
So in the first year
Purchase price of £115,000
- £3,000 deposit paid
- £1,440 (extra top up you have paid)
- £1,440 (extra top up we have paid)
At the end of year one you will have saved £5,880
At the end of year two you will have saved £7,320
At the end of year three you will have saved £8,760
So by then you’ll have saved up a deposit of £8,760 (8%)
Any improvements you make to the property you get the benefit.
Now let’s have a look if you pay a bigger deposit and £80 more per month.
Purchase price of £115,000
- £5,000 deposit paid
- £2,400 (extra top up you have paid)
- £1,440 (extra top up we have paid)
At the end of year one you will have saved £8,840
At the end of year two you will have saved £11,240
At the end of year three you will have saved £13,640
So by then you’ll have saved up a deposit of £13,640 (12%)
The more you pay the quicker and bigger your deposit grows.
If the value of the property has increased you also get the benefit.
So if the value of the property at the end of year three is £120,000, you still only pay £115,000 giving you an additional £5,000 equity and deposit!
So in the two examples above you’ll have saved £13,760 (12%) and £18,640 (16%) deposit.
No mortgage is required until you buy in 2014 (but you can buy at any time).
Price growth and rent deposit payments provide your deposit.
The purchase price is fixed at the outset. You gain from any price growth!
Redecorate, carry out home DIY - YOU benefit from any added value by enhancing YOUR home
This is not a shared ownership or Housing Association scheme
You can move into your new home in as little as 7 days!
Legally approved solicitor contracts.
We can help you get advice on your mortgage in 2014, or sooner.
Move in, and buy later - or walk away! You don’t have to buy if you change your mind.
Perfect if you are either;
- A first time buyer struggling to get onto the housing market
- Struggling to raise a large deposit
- Currently renting but want to own your own home
- Have impaired credit and can't raise finance
- Have recently moved to the UK
About the house:
This extended three bedroom through terraced house is situated within this popular residential location with easy access to Bramley and Pudsey town centres, bus and train stations, the Ring Road network and local amenities and schools.
It comprises an entrance hallway, living room, kitchen, dining room and morning room, three bedrooms, converted loft space, house bathroom, and gardens to front and rear.
Ground Floor
Entrance hall
Front entrance door and door to the living room.
Kitchen 19'11” x 6'11” (6.07m x 2.12m)
Fitted kitchen with a range of wall and base units and complementary work surfaces, incorporating a sink and drainer unit, electric cooker and extractor, with door to back garden
Morning room 9' x 8'4” (2.74m x 2.55m)
Dining room 10'8”x 7'9” (3.24m x 2.37m)
Lounge 15'9” x 11'8” (4.80m x 3.56m)
First Floor
Landing
Bedroom One 13' 1” x 8' 11” max (4.00m x 2.72m max)
Bedroom Two 11'7” x 8'10” (3.54m x 2.70m)
Access to converted loft space measuring 4.6m x 2.54m
Bedroom Three 10'1” x 6' 0” (3.08m x 1.83m)
Bathroom
With three piece suite comprising WC, basin, and bath with shower over, partly tiled walls, and window to the rear elevation.
Outside
Rear and front gardens. Garage with up and over door
For more details contact us
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