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On some of our new-build housing developments, there are requirements stipulated at the planning stage, which give priority to applicants who live and work close by. A Right to Rent check and fraud prevention checks to confirm that you have a legal right to rent a property in the UK. You will need to provide valid proof of your current address and photographic ID.
If you have purchased your home on a Freehold basis, without any ongoing service charge payments to ourselves, then you can sell your home at any time on the open market without contacting us. Only applicants approved for Rent to Buy and included in the application can live in the property. Sub-letting is not permitted within the terms of the tenancy agreement. You must notify us of any change to the household details during the tenancy period. The service charge will also be payable once you purchase your home on either a freehold or shared ownership basis and we will provide you with an up-to- date schedule at that time.
Property & houses to rent in Birmingham
Tourist Attractions Visitors to Birmingham will find plenty to do because it is filled with attractions. The Birmingham Zoo and Botanical Gardens get avid public support and are delightful attractions promoting environmental sustainability and learning. We’ll get in touch when there are rent to buy homes available near you. To create a FREE account and let us know the type of house you’re looking for.
You will not be able to purchase your home outright until the end of the five-year term. Credit referencing to confirm that you have an adequate credit score to obtain a mortgage during the five-year period to purchase the property. Please be aware that we will be unable to proceed with your application if you’re subject to any Bankruptcy or County Court Judgements issued within the last three years. Rent to Buy allows you to move into your new property straight away and pay a reduced rent, giving you extra time – and money – to save towards your mortgage deposit.
Rent to own Homes in Birmingham, MI
Among the communities from which homebuyers can choose are Crestwood North, Forest Park, and Oxmoor. In 1873 Birmingham earned the nickname of the ‘Magic City’ due to the rapid growth the city was seeing and experiencing. The name stuck and is still used today in this southern city that offers the bustle of a city with the slow, rich flavor indicative of the south.
If your circumstances change and you’re no longer able to fulfil the Rent to Buy agreement, we would strongly advise that you contact us at the earliest opportunity. These will be calculated in line with the details stipulated within your Tenancy Agreement and will be checked to ensure that they do not exceed 80 percent of the open market value. The Tenancy Agreement is a legally binding contract between yourself and your landlord. It is important to remember that any breach of the agreement could lead to further action being taken to end the tenancy.
More Birmingham, MI Property Resources
The city was recently named an "All-America City" by the National Civic League, which recognizes cities for their innovation, civic engagement, inclusiveness and collaboration. Birmingham has an interesting history that includes a central role in the 1963 Civil Rights movement and a large iron and steel industry. Today, it is a modern city with a thriving health and finance industry. The median age is 35 years old, reflecting the fact the city has industries and jobs that appeal to young professionals. The city has pushed development projects to revitalize older areas, and these developments have been instrumental in encouraging people to move back into the city.
Considered one of the best neighborhoods in Birmingham, Oxmoor provides its residents with a genuinely suburban feel. The community is rich with green spaces and parks, a plus to the residents who are primarily owners. These are just some of the main factors to consider when looking at a rent-to-own agreement.
What are the benefits of Rent to Buy?
With a lease-purchase agreement, you are required to buy the home from the owner at the end of the rental period. Terms of credit during rental period dependent on agreement with homeowner. Terms of credit may affect ability to qualify for home loan at end of lease period.
An Assured Shorthold Tenancy will be granted, which will run on a periodic basis, for a maximum period of five years. Once a moving-in date has been set, our appointed Letting Agent will advise you of the amount you need to pay and arrange to collect the payment from you on our behalf. Applicants must be ‘working households’ and intend to buy their own home in the future at time of letting.
This fantastic, second floor 1 bedroom apartment measuring over 460 sqft offered furnished is available now! Fifty Sixty is home to 44 brand new, high spec apartments complete with fridge freezer, hob, oven, dishwasher and washer dryer. If you own the property on a shared ownership basis and wish to sell your share, then you will need to contact a member of our Asset Sales Team, prior to placing your home on the market for sale. If you own your home outright with an ongoing service charge, you’ll need to let us know when you are selling.
Shared Ownership is an alternative option whereby the purchaser buys a share of the property (25% to 75%) at a more affordable price, with the option to buy a bigger share at a later date. A member of the team will provide you with the required information and guidance on how to sell your share and will confirm the fees payable as outlined within your lease. We will then arrange for the required end of tenancy inspections to be carried out. You must ensure that the property is returned to us in the same condition as when you moved in and that your rent account is not in arrears. Should you proceed to buy your home, we will require an Agreement in Principal from your mortgage lender, confirming that you’re able to secure a mortgage.
Learn more about what we do and see our availableBirmingham rent to own homes. Attempting to purchase a home seems far more daunting than renting to own a home, renting is of course less of a commitment with fewer upfront costs. In the long term however on average a homeowners mortgage is less than a renter’s monthly payment after just 6 years. By finding a way to buy a home instead of renting you can save money and build equity quicker. With a lease-option agreement, buying the house after your rental period is up is optional. However, you will likely forfeit any payments you made to the property.
Often times we remodel the homes to bring them up to date and up to insanely great shape for a new rent to own tenant / buyer like yourself to move into. This ground floor 1 bedroom apartment is available in the infamous Richard Lighton House development. The property has an open plan living and dining area, with an integrated kitchen with fridge/freezer and washer/dryer and new bathroom suite with shower over bath. A security deposit will be payable prior to you moving into your home, which is calculated at five weeks’ rent, including any service charge.
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