Protected Lease Options

The way a quick house sale in Cambridgeshire, Bedfordshire and Northamptonshire has always been interpreted is that selling a property for cash is neither preferable nor possible. And people believe that they definitely cannot move on when their property has little or no equity in it. If you need to sell your house quickly and are based around Cambridgeshire, Bedfordshire and Northamptonshireand stop paying that unnecessary extra mortgage AND get what you want for your house, we can help by using a process called a lease option.

Lease options in property have been used in the USA and Australia for over 30 years now. In the UK, It is becoming a revolutionary tool for helping people sell their house quickly in and around Cambridgeshire, Bedfordshire and Northamptonshire within weeks or even DAYS.

A lease option is a combination of a “lease” and an “option”. This is how it works:

Let us presume you have a property that you need to sell very quickly in Cambridgeshire, Bedfordshire and Northamptonshire. If you tried to sell through an estate agent in this extremely unpredictable market coupled with the over-supply of properties in estate agents’ books means your property majority of the time can be sat on the market for nine to twelve months without even being sold. In the meantime, you are continuously being hassled to reduce the asking price.

Well what if your property doesn’t have enough equity to do this! Now selling you house is impossible unless you in effect pay someone to buy it from you!!!

OK so now you have wasted 12 months, been put through unmeasurable amounts of stress and the next avenue is selling to a cash buyer which requires a 25% minimum discount in the current market. And once again you are having to pay someone to buy your property.

With lease options, you, as the seller, grant us an option to buy your property at a price that we are both happy with. The option period can be arranged for between 3 and 15 years. During this time we take over the responsibility of your mortgage payments and your property’s maintenance and upkeep. So basically we are “leasing/letting” your property.

This allows you to move out of the property immediately without having to ever worry about the mortgage payments or the property.

When we decided to use our option to purchase your property, you may then make a profit that would otherwise be impossible if you had sold today.

Now let us put it into monetary terms:

If your property is worth £100,000; you still have £80,000 left on your mortgage and your monthly mortgage repayments are £600 per month, to sell in todays market you may have to reduce it to anywhere between £90,000-£80,000 to attract any interest. Which means you may make no profit and have to pay someone thousands to sell your home and all of the legal fees and it could take 6 to 12 months to even get to this point and during this time, you’ll need to continue paying your mortgage.

With lease options, you, as the seller, grant us an option to buy your property at £90,000 within the next 5 years. Meanwhile, we pay your outstanding £600 a month from your mortgage. When we decide to use the option to buy your property at any point within the agreed 5 years you would make £10,000 after paying off your mortgage of £80,000.

Should we choose not to buy the property in 5 years, the property would just be returned to you, probably with improvements made to it. By this time you would have benefited from a long period of not paying the mortgage, an increase of the property value as the market changes and making it easier for you to make that sale.

So if you want a quick house sale in Cambridgeshire, Bedfordshire or Northamptonshire contact Buy-my-place.co.uk today