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Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Lisa All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client. www.keys-mortgages.com
'Lisa Orme' pid='243273' datel Wrote: get contacted regularly by tenant buyers or investors seeking a mortgage using the top ups or equity as a deposit which isn't possible contrary to what they were told at the outset.
Hi Lisa, Sorry if I've got the wrong idea, or taken the above quote out of context - I just isolated this as it's what concerns me. I have seven tenant buyers with Ewemove (formerly the National Property Group) ie: I own the properties and have tenant buyers paying top-ups to NPG to save for deposits to buy.
After using NPG several times, I got brave and arranged a Tenant Buyer contract myself: the TB pays me £100 pcm which I keep in a separate bank account for them. Are these types of Rent to Buy arrangements safe in terms of the TB being able to use their top-ups as a deposit, as I have innocently assumed?
To give my view of lease options, I have to say that I think a little lack of confidence can go a long way in saving ourselves from being sucked into things that we're not comfortable with. That's how I felt about lease options, even after meeting Rick Otton and being taken in to some extent by him and his 'dynamic students'. I just felt I would never have [i]the cheek to take over someone else's property - especially with the aim of making indecent sums of money for absurdly little effort! It's just instinctively wrong!
Author of The Complete Guide to Property Strategies and The Complete Guide to Property Investing SuccessLearn more at http://www.completepropertysuccess.co.uk
I also post property updates on my Facebook Page
"It is the small decisions you and I make every day that shape our destiny" Anthony Robbins
Manchester based investor. I buy, sell, renovate and rent investment property in East/North Manchester email: firstname.lastname@example.org Call: 0161 681 3724
(21-11-2015 01:29 PM)Michael_Brown Wrote: Rent to rent and lease options are a tragedy awaiting to happen and there will be may Gurus and pupils will be damaged and the person who owns the property will be left with the pieces to pick up. The majority of these deals are mainly not to the property's owners advantage and if they have given the other person a right to control or manage there mortgage then God help them.
You're in no position to comment on anyone based on your poor performance and lack of results.
THIS PROPERTY TRIBES ACCOUNT IS NO LONGER USED. DO NOT SEND PRIVATE MESSAGES.YOU CAN REACH ME AT BESPOKE FINANCE for HMO Mortgages, Cheap Life Insurance and Limited Company Buy-to-Let on 08009202001