Kingswood

 

armada lettings

rent-to-own specialists

Kingswood, Bristol - 1 bed first floor flat

 

OWN THIS PROPERTY NOW WITHOUT THE NEED OF A MORTGAGE!

 

Located in this attractive Victorian building is this converted first floor flat in Kingswood, Bristol with shared drive and garden.

 

This flat is offered on a 3 year term; at an option-to-buy price of £98,000; and at a monthly rent of £510

 

  • communal entrance and hallway
  • lounge - 11'5" x 9'3"
  • separate kitchen - 6'6" x 4'11"
  • bathroom with electric shower
  • double bedroom - 11' x 11'1"
  • partial double glazing
  • sash windows to the front
  • shared driveway
  • pleasant shared private garden

 

(All approx measurements)

 

 

FIGURES SHOW BRISTOL HOUSE PRICES ARE RISING FAST!

 

"Official figures from the Land Registry have confirmed that Bristol is

now right at the centre of one of the hottest property spots in the country

...... And the figures have revealed that the price of the average house in

Bristol has risen by more than eight per cent in the last 12 months – the

equivalent of £1,000 a month for an average house."

 

(Bristol Post June 2014)

 

 

 

So how will it work?

 

 

Step 1: Application

 

  • You put a holding deposit of £510 down to secure the property
  • You pay £30 to us to allow us to carry out a full credit and referencing check

 

£540 on application

 

 

Step 2: Paperwork

 

Once the checks are complete and the application is accepted, you will be given two documents to sign

  • Assured Shorthold Tenancy Agreement
  • Standard Rent to Own Agreement

 

You will also be given a property information pack which includes:

  • Title search for the property from the Land Registry
  • Energy Performance Certificate
  • Seller's Property Information document
  • Seller's Leasehold Information document
  • Fixtures and Fittings Contents document
  • Appropriate searches for the property
  • Details on leasehold costs and building insurance costs
  • Latest council tax bill
  • Latest water bill
  • Latest electricity bill

 

 

Step 3: Moving in (month 1)

 

Once all the documents have been signed, you can move into the property. At this stage:

 

  • The holding deposit becomes your first months rent
  • You will need to pay the initial rent credit towards building up a 5% deposit to enable you to buy the property after 3 years.

 

Rent credit instalment schedule: 36 monthly payments of £140

 

£0 rent + £140 rent credit = £140

Note: rent credits go towards your deposit when you buy the property

 

 

Step 4: Monthly payment schedule (month 2 to month 36):

 

£510 rent+ £140 rent credit = £650

Note: rent credits go towards your deposit when you buy the property

 

Over the 3 year term we will get you to a point where you have saved a deposit of at least 5% of the purchase price (36 months x £140 = £5,040)

 

 

Important:

 

If the option to buy the property is taken up then all the rent credits will be credited towards the purchase price of the property.

 

If the option to buy the property is not taken up then the rent credits will not be refunded.

 

 

 

 

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