Rent2Buy

[P27]

Hi All,

Im currently mid buying mortgage application and am still taking the time to consider other alternatives. A scheme that I think appears to serve many merits is that of the Rent2Buy Scheme. It would appear to be a good move for both buyers and sellers to get the property market rolling again, however it doesn't appear to be hugely available over here,especially in rural areas. My question is has any one out there any experience of this market-its availability,merits, disadvantages etc?

 

[Sarn]

I'm open to correction but my understanding is that there may be stamp duty implications on a new property that you rent and subsequently buy (if you're not a first time buyer and it's <125 sq. m.) i.e. it will no longer be classed as a new property once it is let to you.

 

[rmelly]

Prevoous thread on this: http://www.askaboutmoney.com/showthread.php?t=36497