Marie_2019
Registered User
- Messages
- 4
Hi,
Has anyone ever done a rent to buy scheme to buy a house?
Or anyone ever heard of or used a company called Quartech?
A broker has told me about them, apparently I would need to put up 40%. The company would buy the rest of the house.
The property would be mine now to move into with the option to buy the company interest out in 3 years.
The company would rent it to me for the first 3 years.
After 3 years I could buy their interest out with either a mortgage from an Irish lender - or, if I have other assets, sell shares/properties.
Alternatively I could sell the property and a) get the 40% I put into it back and b) receive any uplift in equity, i.e. if the value rises in the intervening period me, not the company, would be entitled to this. All the comapny, Quartech, would be entitled to at that point is the money they put into it in 2019 and nothing more.
There would be no mortgage - they'd take an equity stake in the property.
Would love to hear people’s thoughts?
I have a bad credit history that’s why i can go the traditional route.
Thanks
Has anyone ever done a rent to buy scheme to buy a house?
Or anyone ever heard of or used a company called Quartech?
A broker has told me about them, apparently I would need to put up 40%. The company would buy the rest of the house.
The property would be mine now to move into with the option to buy the company interest out in 3 years.
The company would rent it to me for the first 3 years.
After 3 years I could buy their interest out with either a mortgage from an Irish lender - or, if I have other assets, sell shares/properties.
Alternatively I could sell the property and a) get the 40% I put into it back and b) receive any uplift in equity, i.e. if the value rises in the intervening period me, not the company, would be entitled to this. All the comapny, Quartech, would be entitled to at that point is the money they put into it in 2019 and nothing more.
There would be no mortgage - they'd take an equity stake in the property.
Would love to hear people’s thoughts?
I have a bad credit history that’s why i can go the traditional route.
Thanks