Mortgage to rent in Scotland?
Perhaps? Above all else we're here to help you keep your
house your home. The information here is intended to help you find out
more about mortgage to rent schemes and whether they might be the right thing for you and
your options for finding help.
Moving from mortgage to rent in Scotland is also
sometimes known as "sell and rent back" or "sale and lease back". In
Scotland you have at least two alternatives. A Government run scheme, or
finding a sell and rent back provider to help. Preferably, one run by
Option one the Government run
Scotland, Communities Scotland, the Scottish Government's housing and
regeneration agency, operates the National Mortgage
to Rent Scheme. The Communities Scotland mortgage to
rent in Scotland scheme allows a social landlord to buy your property and
rent it back to you. However, certain qualifying criteria apply in terms
of your circumstances and house value.
Truthfully this scheme only caters for a minority of people as
it's designed to help those suffering financial hardship - people
facing mortgage arrears and in danger of having their homes repossessed.
However, if you find yourself in this kind of situation it is worth
On the plus side this mortgage to rent
in Scotland scheme will offer you full market value for your home. However,
the social landlord will deduct the cost of repairs from the price. Repairs may cover things you wouldn't initially have considered such as
"standardising" your house to bring it into line with others that the
social landlord owns.
However all that said, it can be a good
mortgage to rent alternative for people who are otherwise vulnerable
to getting low offers from other providers of mortgage to rent schemes.
You'll find the contact details for
Communities Scotland in our
Option two - find a Scottish
sell and rent back specialist
The mortgage to rent in Scotland option is
also provided by specialist Scottish sell and rent back companies. These
cater for people considering the mortgage to rent route for a much
broader range of reasons than those covered by the Communities Scotland
Scheme. The non Government option can also accommodate a broader range
Should you decide to contact specialist
Scottish sell and rent back companies you'll probably come away with the
impression that some are more interested in your property than
you. At least that's what our clients tell us! But opting for a
mortgage to rent in Scotland solution doesn't have to be like that.
When it comes to mortgage to rent
in Scotland we turn the usual-property-company-way-of-doing-things
on it's head.
Our starting it point is always you...
What your plans are and what you're trying to achieve.
That's because we specialise in
helping people overcome whatever awkward situation they find
Some people say only use a cash
buyer or mortgage to rent in Scotland specialist if your need to sell
outweighs your need to get best price for your property. As far as
sell and rent back arrangements are concerned this is an
over-simplification of the the truth as you'll see later on.
Your house is your most important asset.
You won't want to give it up lightly.
But perhaps even more importantly, it's your home. You'll
want to be certain you're in safe hands.
Naturally you'll have lots of
questions. The more you think about the the mortgage to rent option the
more questions you'll have. We think that's a good thing.
We're here to answer all your questions...
Mortgage to rent Scotland -
the big questions
When people speak to us about mortgage
to rent in Scotland the three questions
uppermost in their minds are:
How much will they get for their
How long can they remain in their
How much rent will they be paying?
We have no hard and fast rules about
the length of time we'll keep a property. It all depends on you. But we don't
just say the things you want to hear. We do them too. The terms we agree
are incorporated into your lease which gives you the automatic right to
re-new it as long as both parties (you, us) keep up our obligations
under the lease. Or if preferred, we can provide you with consecutive leases.
The level of rent you pay is really up to you.
All that we ask is that we make a "fair return".
The thing you have to bear in mind is that
the purchase price and the rent you pay are always related to some
extent. We typically work back from what you tell us is your
What this means is that you set the
purchase price when you give us an indication of your target rent.
However, where possible, we like to give you a number of options to
consider based on the principle the more we pay for your property..the
higher the rent.
But is it right for you? We
specialise in mortgage to rent in Scotland solutions. So as providers of
sell and rent back services across Scotland we realise we could be together for years. So if a sell and rent back solution
isn't right for your circumstances we'll be the first people to tell
Read more about
mortgage to rent in Scotland or call us on
0800 043 0669
for an initial chat about your plans. Alternatively complete the form below.