Contractor Mortgages Rate Rise Comes Ever Closer

Posted on October 8, 2015 by admin

contractor mortgages fixed rate mortgages

Contractor Mortgages Rate Rise

Today, the Bank of England decided to keep bank rates on hold, for now. However, the day is coming closer and closer when the Governor of the Bank of England will announce a contractor mortgages rate rise.

This would push up the cost of mortgages for UK contractors. Many smart contractors have been taking out fixed rate contractor mortgages while they still can.

However, already the cost fo fixed rate mortgages is starting to rise as lenders anticipate the next base rate rise.

Rate Rises for Contractor Mortgages

It was expected that the base rate rise would happen by the end of the year. However, it is more likely to be in the first quarter of next year before mortgage rates go up.

We have had record low-interest rates for six years now as the Government sought to fight the savage downturn. However, the downturn is over now and the next change in base rates will now be up. It is just the timing now.

As well as mortgage being more expensive for contractors, when base rates do go up, they will also be able to borrow less.

Mortgages Expensive for Contractors

When base rates go up they can often go up rapidly in more than one hike. The reason is that they go up to stop inflation and to stop the economy overheating. However, it takes months for this to take effect.

With the economy overheating even more, and inflation increasing, the Panel and the Governor of the Bank of England will keep looking for more rises.

This could make mortgages much more expensive for contractors. That is unless they take advantage of the current fixed rates on offer at specialist contractor mortgage brokers.

Many of those contractors on variable rate mortgages, who have been enjoying low mortgage rates for six years now, will get quite a shock when their monthly payments start to rise in maybe several chunks.

Fixed Rate Mortgages for British Contractors

It would be a good time for them to swap into a fixed rate mortgage. That would take away any nasty surprises that are likely to start in the first quarter next year.

However, it would be wise not to wait till then. This is because the rates for fixed rate mortgages are likely to rise before then, in anticipation of base rate rise to come. The sooner they change over to fixed rate mortgages, the better, and the cheaper it will be for them.

To find out more, before a contractor mortgages rate rise, or to apply for a fixed rate contractor mortgage from a specialist contractor mortgages broker, just click on Contractor Mortgage Application and fill in the form there.

First Time Buyers Advantage | Cheaper to Buy Than Rent

Posted on September 11, 2015 by admin

First Time Buyers Advantage

Itis time to get a first time buyers advantage for contractors.

They can now get first time buyers contractor mortgages in the contractor mortgage market which suit them as much as all contractors looking for mortgages.

A survey by Halifax has revealed that buyers are £670 better off per year than those renting.

It was reported that the average monthly rent in June 2015 was £722 for a three bedroom property. This compares to a mortgage of £666 for the same size property.

Therefore the average first-time buyer’s monthly mortgage is 8% lower than the typical monthly rent.

Contractors Buying Property in London

Those buying in London could save up to a massive £81 per month this year. The average mortgage cost is £1,338 compared to the average rental cost of £1,419.

The financial benefits of buying versus renting has made quite a leap in the last 6 years.

During the credit crunch buying was 16% more than the average rental cost. This meant you would be paying out £1,154 a year more on your mortgage compared to renting.

Buying Cheaper than Renting

So why in 2015 is buying cheaper than renting?

So, there is now a first time buyers advantage because of historically low mortgage rates

Halifax reported that despite the typical price of a three bedroom house rising by 25% since 2009, mortgage rates have plummeted.

The average mortgage rate was 4.92% 6 years ago in comparison to today’s average mortgage rate of 2.91%.

Contractor Mortgage Market Rates

At the beginning of 2015 rates were at a record-breaking low. They were pushed down by the Bank of England’s base rate, which is currently hovering at 0.5%.

This resulted in a flood of competitive rates into the mortgage market. This enabled Contractor first time buyers to secure a mortgage with a small deposit and record-breaking low mortgage repayments.

Although the Greek crisis seems to be putting pressure on the Eurozone, which could also be delaying Britain first interest rate rise in 8 years, media reports reveal that the prospect of a hike are immanent as the UK’s economy strengthens.

Some high street lenders are already preparing themselves with mortgage rates slowly creeping up.

However the Governor of the Bank of England, Mark Carney, has indicated that base rate rises will be a slow process. Despite the forthcoming increase there are plenty of competitive mortgages deals to be found.

Buying Property vs Renting

Buying your first home is the biggest decision you will ever make.

Many first time buyers find the whole prospect rather daunting. The Royal Institution of Chartered Surveyors reports that just 1 in 5 young buyers find the mortgage process easy.

Therefore it is essential to seek professional financial advice and weigh up the pros and cons before committing to a property purchase:-

Saving For a Deposit

– Saving for a deposit can be a struggle but help is at hand. There are Government schemes that help you purchase your first home with as little as a 5% deposit. Help to buy ISAs will also be launching in the Autumn which will help you save your deposit.

– It’s a big commitment but once you have paid off your mortgage your home will be yours.

– Home improvements can be costly but they can increase the value of your property. So it might be worth finding a project for your first home to help you move up the ladder later.

– If your home increases in value the equity may help you purchase a bigger property or fund your retirement pot.

– Buying can be cheaper than renting.

– If interest rates rise, your repayments will go up. It’s important to prepare for any rate rises and take advantage of cheap fixed rates whilst they last.

This is why there is a first time buyers advantage now.

Specialist Contractor Mortgages

Our partners are experts in helping Contractors to find a mortgage tailored to your unique needs and they have a wealth of experience and knowledge of contractor mortgages.

They are leaders in the specialist contractor mortgages market.

They can take the hassle out of finding the right mortgage rate for you. To find out more please click on Contractor Mortgage Application and fill in the form there.

Specialist Contractor Mortgage Deals – Nationwide to Offer Them

Posted on August 4, 2015 by admin

Contractor Mortgage Deals

We look, now at contractor mortgage deals in the current market.

Tony Harris is a supplier of specialist mortgages to the contractor market. It used to be that if a contractor wanted a mortgage, he, or she, would:-

1. Have to produce three years worth of accounts

2. Be given an offer based on your Director’s salary.

Still, to this day, if you walked into a hight street bank or building society, they would ask for the same.

Specialist Contractor Mortgage Brokers

Those contractors in the know, however, use specialist contractor mortgage brokers like Tony Harris to get the top contractor mortgage deals at best contractor mortgage rates.

Tony has been getting great contractor mortgage deals from Kensington, Newbury, Furness and Kent Reliance.

Now, after seven years of negotiating Tony has managed to get a great contractor mortgage deal from the Nationwide – and at market leading rates.

UK Contractor Mortgages articles

He has done some business with Nationwide in the past but only on behalf of Umbrella Company contractors.

Limited Company Contractors

Now Nationwide has agreed to provide great contractor mortgage deals for limited company contractors. Indeed, they are offering them at the same great market-busting rates that they offer to permanent workers based solely on their contract rates.

Nationwide are prepared to offer those contractor mortgage deals to contractors in several professions including IT, engineering, oil and gas and interim managers as well as a host of others.

There is no minimum income requirement.

With these new contractor mortgage deals, Nationwide are expected to become the lender of choice for UK contractors.

Contractor Mortgage Offer

When they are working out their mortgage offer to you, Nationwide will take into account 80% of your contract rates over a 52 week period. That will give contractors a shedload of money for house buying purposes.

They’ll give you loans of up to 90% of the value of the property as a loan or 85% if you are remortgaging an existing property.

Cheap contractor mortgage deals

They have some really good specialist contractor mortgage deals on the table. These include a 10-year fixed rate mortgage. With interest rates due to rise this is the time to be taking one of those.

2-Year Fixed Contractor Mortgage Deals

Here’s what they are offering on 2-year fixed deals.

60% LTV – 2 years fixed at 1.49% with a £999 arrangement fee
75% LTV – 2 years fixed at 1.79% with a £999 arrangement fee
80% LTV – 2 years fixed at 1.89% with a £999 arrangement fee
90% LTV – 2 years fixed at 3.14% with a £999 arrangement fee

You don’t have to pay the mortgage arrangement fee up front as that can be added to the mortgage.

10-Year Fixed Rate Mortgage Deals

Here’s what they are offering for 10 years fixed rate mortgages, which could be just what you want with interest rates set to rise. These rates lead the market.

60% LTV – 10 years fixed at 3.14% with a £999 arrangement fee
75% LTV – 10 years fixed at 3.44% with a £999 arrangement fee
80% LTV – 10 years fixed at 3.69% with a £999 arrangement fee

If you sell your house and buy another one, you can simply carry these rates over to your next property.

Nationwide Tracker Mortgages for Contractors

Here’s what Nationwide offer for Tracker Mortgages.

75% loan to value – 2 year tracker at 1.44% (0.94%+BBR) with a £999 arrangement fee
80% loan to value – 2 year tracker at 1.94% (1.44%+BBR) with a £999 arrangement fee
85% loan to value – 2 year tracker at 2.69% (2.19%+BBR) with a £999 arrangement fee
90% loan to value – 2 year tracker at 3.49% (2.99%+BBR) with a £999 arrangement fee

All the above specialist contractor mortgage deals are available on purchase and remortgage.

Indeed, if you are remortgaging to the Nationwide, they will cover your legal and valuation fees which is a pretty good deal.

Contract and Address Details

If you want to apply for one of the above deals, Tony and his team will need:-

1. A copy of your contract

2. Proof of address details from your passport and a utility bill from the past 3 months

3. Your personal and business bank account information from the last three months.

Having those together, when applying, speeds the process up a lot. The Contractor Buy To Let Market is also booming.

Contractor Mortgage Offer

When you contact Tony and his team you can get an offer in principle within an hour of you contacting him.

They don’t charge a fee which some contractor mortgage brokers do, so that will save you £500 or so.

To find our more, or to get a quote, simply click on Contractor Mortgage Application and fill in the form there.

Cheap Contractor Mortgage Deals End Comes Nearer

Posted on July 25, 2015 by admin

Cheap Contractor Mortgage Deals

We have had some of the best cheap contractor mortgage deals we have ever had over the past few years. Mortgage rates have been unbelievably low, historically, in recent years.

This was caused by the savage economic downturn and efforts by the Bank of England to boost the economy by keeping interest rates at their lowest rates ever.

However, that could be all coming to an end in the next few weeks.

Interest Rate Rises

Bank of England Governor, Mark Carney, has recently stated that he expected to be considering higher base rates by the year’s end.

That statement in itself is causing forward market interest rates to rise.

This is putting pressure on the fixed rates over 2, 3 and 5 years that banks are giving.

It seems that the cost of funding these deals has jumped by 10% in recent weeks. The banks won’t suck that up for too long.

Contractor Mortgage Rates

Lenders are expected to increase their fixed interest mortgage rates over the coming weeks hitting contractor mortgages hard.

Best Contractor Mortgages Rates & Offers

Low interest rates have been around for a while. If anyone wants to take advantage of cheap contractor mortgage deals then now is the time to do it.

We are unlikely to see such low-interest rates again – and they have just weeks, even days, to go.

The first tweaks to interest rates are expected to take place over the next week or two. This will just be the start.

Contractor Mortgage Market

The competitive contractor mortgage market has kept prices low but, with the cost of money that the banks can borrow rising, the dam is about to burst and banks and mortgage lenders will have to push rates higher very shortly.

Base rates have been at 0.5%, an astonishingly low-interest rate, for 6 years. This will never happen again.

They are expected to rise by the end of the year but fixed interest mortgages are already rising in anticipation of that rise. The cost of money is rising.

Long Term Fixed Rates

Those wanting longer term fixed rates need to get those now.

There has been a rush of mortgage applications over the last few weeks as house buyers rush to get those once-in-a-lifetime deals.

Cheap contractor mortgage deals are coming to an end. There are only days, or at most weeks, to take advantage of this.

Specialist Contractor Mortgages

Tony Harris has been getting contractors specialist contractor mortgages for years now. Through hin 95% contractor mortgages are now available for all contractors.

UK Contractor Mortgages articles

He can get them cheap contractor mortgage deals based on just their contract and with mortgage offers of up to 4 times their daily rate annualised (weekly rate x 48).

If contractors went to a bank or building society they would have to produce three years worth of accounts and get a quote based on their Director’s salary.

For more information click on Contractor Mortgages.

To find out more, or to apply before rates rise, just click on Contractor Mortgage Application and fill in the form there.

Contractor Buy To Let Mortgage Market Booming

Posted on July 2, 2015 by admin

Contractor Buy To Let Mortgage Market

The contractor buy to let mortgage market is in a bit of a boom at the moment.

According to figures out today the buy to let contractor mortgage market is going through the roof.

The Bank of England, and its boss Mark Carney, say that the Buy-To-Let mortgage market is growing at an appreciably faster rate than the ordinary market. It looks like Landlords see the property letting market as a great investment. They are piling in.

The same goes for the contractor buy-to-let mortgage market. Contractors are piling in too.

Contractors Investing in Buy to Let Property Market

They are looking for ways to make their money work for them. One of those ways, it appears, is to buy into the property market.

At these low-interest rates, they are able to get most of the money that they pay in mortgage payments back in rent. Sometimes they can even make a profit.

In later years, as rents rise, they can pull bigger and bigger profits from it.

However, the big gains from the contractor buy to let mortgage market are in capital gains.

Contractors Who Invest Wisely in Property

Those contractors who do well financially are those who make investments like these.

The contractors are earning money and their investments are making money too.

Many contractors with a few years experience are able to make more money from their investments than they make themselves.

Indeed, after a few good years, some contractors are able to get out and live on their investment income. They can then do what they like with their time.

Time for Contractors to Start Investing in Property

Normally we are talking about contractors who have been investing for 10 years or more successfully.

However, there is no time like the present to take that first step.

Tony Harris started the contractor mortgage market and has been getting British contractors 95% specialist contractor mortgages for years now.

He is able to get contractors mortgages based on their daily rate annualised and using their contract as proof rather than having to produce three years worth of accounts like you would if applying through a high street bank or building society.

Contractor Mortgages Based on Contract Rate

Indeed if you go through those you will get an offer based on just your Director’s salary, which makes it not worthwhile.

However, with Tony all you have to do is produce your contract.

He can get a new contractor a quote on the very first day of their very first contract.

Indeed, he has had contractors in their dream homes as quickly as two weeks after they started contracting.

He can also get them a contractor buy to let mortgage in pretty quick shape too.

Contractor Buy To Let Mortgage

To find out more about the contractor buy to let mortgage market click on Contractor Buy-To-Let Mortgages

To find out more, or to apply for a contractor buy-to-let mortgage, or indeed for any specialist contractor mortgage, just click on Contractor Mortgage Application and fill in the form there.

90% Contractor Mortgages with Cashback at Great Rates

Posted on June 16, 2015 by admin

90% Contractor Mortgages with Cashback

Since the Halifax made a special contractor mortgages with cashback offer through our contractor mortgages partner, dozens of first time buyers have taken advantage and shared tens of thousands of pounds at an average of £2,300.

They expect that the offer will come to an end shortly so it is important that contractors get in now if they want to take advantage of the offer.

Contractors have obtained some of the best rates on the market – and got their cashback too. The Halifax are making this contractor mortgages with cashback offer only through our partners, in order to get a one-off big boost to their mortgage business. The offer will disappear soon.

The cash is being given so that first time buyers can cope with the extra costs of moving in. The Halifax are giving cashback of 1% of the total mortgage costs up to £2,500 paid within a month of completion.

Contractor Mortgages with Cashback Rates

They are offering some great rates too for their contractor mortgages with cashback:-

90% for a 2-year fixed mortgage at 3.44%

85% for a 2-year fixed mortgage at 2.34%

80% for a 2-year fixed mortgage at 2.19%

60% for a 2-year fixed mortgage at 1.64%

Arrangement fees are £1,499 for all of the above.

That’s some pretty good rates especially as they can be locked in for 2 years.

Help to Buy Contractor Mortgages

You can also get contractor mortgages with no arrangement fee for smaller amounts borrowed.

You can also get a 95% contractor mortgage using Help to Buy. The deal is also available for new build and affordable housing.

It doesn’t include Buy To Let or mortgages of over £1 million.

Contractor Mortgage Application

You need to lock in this deal quickly though. Get an agreement in principle as soon as you can.

You need to have made a formal mortgage application before this deal ends. Our partners are ready to help you immediately.

Our partners can get you a quote on the every day you apply. If you get an AIP (Agreement in Principle) for the loan it will help when dealing with the estate agents. You may even get a better price than someone who doesn’t have one as you are ‘ready to go’.

Our partner started the specialist contractor mortgages market 10 years ago. Contractors used to find it difficult to get mortgages previously and had to produce three years worth of accounts and got an offer based on their Director’s salary – which made the offer very low.

Now, our partners can get them offer on production of their contract and at a multiple (up to 5 times) of their daily rate annualised ( x 48). They are happy to give you their expert advice free of charge.

Apply for Contractor Mortgages with Cashback

To find out more about the contractor mortgages with cashback offer or to take up the Halifax offer while you can, you should click on Contractor Mortgage Application and fill in the form there.

Tory Election Win Good for Specialist Contractor Mortgages Market

Posted on May 25, 2015 by admin

Tory Election Win Good for Market

Whether, you voted Tory, Labour, Liberal Democrat, SNP, UKIP, Green Party or you voted for no party at all, it can’t be denied that a Tory Election Win is going to be good for the Housing Market.

As that will be the case, a Tory election win will also be good for the Contractor Mortgages Market too.

Firstly, Labour’s Mansion Tax on properties over £2m will not now be implemented.

You may think that this won’t affect contractors too much. However, the price of houses and flats have gone through the roof in London, This is where a large percentage of contractors live and work.

London has become very much an international city and foreign buyers are pushing house prices higher there.

Supply and Demand for Property

Secondly, the Conservatives won’t be going on any public housing building programme that Labour might have done. This would have boosted the supply of houses and flats on the market.

As those who know their economics know there is the Laws of Supply and Demand. This says that if you increase the supply of a commodity then the price will fall.

There are also no plans by the Conservatives to give planning permission for houses on green belt sites or even in brown field sites in major cities.

This will keep the supply of houses down as the population rises. This is mainly based on heavy immigration which is mainly in the London area.

So, in the next few years, the factors will not be in place for a major increase in the supply of housing to the market.

Therefore, as the demand for housing is increasing, the price of housing should increase too as the supply of housing is rising at a slower rate.

Specialist Contractor Mortgages

The Tory election win will have a knock-on effect on the specialist contractor mortgages market.

This has been healthy for some time now. There seems to be no reason to expect that to change in the ear future.

To find out more information about Specialist Contractor Mortgages brokers, or to apply, click on Specialist Contractor Mortgages

Contractor Mortgages | Which Contractor Mortgage?

Posted on April 10, 2015 by admin

Which Contractor Mortgage?

People often ask us which contractor mortgage should a contractor choose?

What most contractors do is to walk into a high street bank or building society and ask for a mortgage. This is a huge mistake. They will tell you two things:-

1. You need to produce three years worth of accounts

2. The contractor mortgage offer will be based on a multiple of your Directory’s salary.

No matter which contractor mortgage you get it would be worse than if you would have got as a permanent employee.

Shock to Contractors

This will come as a shock to contractors – especially those that have been contracting for less than 3 years. Indeed, when I was told the above, a good few years ago, I just gave up for many years looking to own my own house.

I would have been better staying as a permie as I would have got a better mortgage offer. I wished that I had bought a house or flat PRIOR to becoming an IT contractor.

Of course, this was before the days of specialist contractor mortgages. Tony Harris started that market just over ten years ago.

He went to lenders and asked them to fund specialist mortgages for IT Contractors. This took lenders aback and shocked at his temerity in asking for long-term mortgages for people, i.e. IT Contractors, who had insecure jobs. This could be a disaster for them, they thought.

Which Contractor Mortgage for Tony

However, this could potentially be a very lucrative market for them as there were a growing number, now measured in the hundreds of thousands, of IT Contractors in the UK.

So, Tony managed to get one lender to dip their toe (the very edge of their big toe) in the water to test specialist contractor mortgages to see if it would work.

And work it did!

UK Contractor Mortgages articles

They found that IT contractors paid their monthly mortgage instalments at least as well as anyone else and didn’t default on their mortgages during hard times.

So, they started lending more IT Contractors money for specialist contractor mortgages. Then Tony started to get other lenders to loan money to IT Contractors after this initial success.

It meant that he was able to get better and better rates for IT contractors as the lenders fought each other to get into this new lucrative market. Remember this when you are considering which contractor mortgage you should get.

Mortgages for All Contractor Now

Within the last couple of years Tony was able to get these lenders to extend loans to all contractors and not just IT Contractors.

The deal he has got with them is much better than the deal that contractors would get if they walked into a high street bank or building society.

The main points of the deal are:-

1. Contractors would not need three years worth of accounts. All the proof they would need to offer contractors a mortgage would be the contractor’s contract.

2. The offer would be based on the contractor’s daily rate annualised. That is Daily Rate x 5 x 48 x 4.

Contractor Mortgage Offers

They can now get contractors mortgage offers on the same day that the contractor contacts them.

Indeed they can get first time contractors a mortgage offer on the very first day of their very first contract. It means that they can get the keys to their dream house approximately four weeks after their first day on a contract.

Indeed, in one case they got one first time contractor into his dream house just two weeks after starting his first ever contract.

Tony has so much credibility with lenders now that he can often get contractors mortgages at better than market rates.

Help to Buy Mortgages

With the advent of Help to Buy mortgages, he can get contractors 95% mortgages.

So, which contractor mortgage should you look for – one from a high street bank or building society – or one from a specialist contractor mortgage broker like Tony?

I think that one’s a no brainer!

To find our more about these specialist contractor mortgages click on Contractor Mortgage Application and fill in the form there.

Help to Buy ISA for First Time Buyers – Contractor Mortgages

Posted on March 19, 2015 by admin

Help to Buy ISA

Contractors have just had some great news from Chancellor Osborne in his 2015 Budget. He has created a Help to Buy ISA for first time buyers.

The Help to Buy scheme, brought in by the Government has been highly successful. It has provided the feelgood factor that the Government wanted going into the General Election in May.

Previously, lenders were asking for 20% and 25% deposits to first time buyers and they just didn’t have it. First time buyers are crucial for a healthy housing market. Their inability to get into the market was depressing prices.

So, the Government guaranteed 20% of the deposit. This meant that those first time buyers were able to get 95% mortgage again. They did so in droves.

This helped to push house prices up which engendered the Government’s feelgood factor. This, in turn, has brought the Conservatives level with Labour in the polls.

New Help to Buy ISA

Now, the Government has gone further and created the Help to Buy ISA.

It enables first time buyers to be able to save tax-free for a mortgage deposit in an ISA. Not only that, for every £200 a first time buyer saves the Government will add a further £50.

That should help!

Furthermore, it means you are able to increase your deposit by 25%.

It’s a huge boost to first time buyers, including contractors taking out contractor mortgages.

Help to Buy ISA in the Autumn

Said Emilie Heaney, an expert on both the contractor mortgages market and the ISA for contractors market:-

“Contracting first time buyers will be able to start saving in these special ISAs in Autumn 2015. You will need an initial deposit of £1000 to open a H2B ISA and can use it to save for homes worth up to £450,000 in London and £250,000 in the rest of the UK.

“So, your £1000 you will benefit from a £250 uplift from the Government.

“Overall this will be further positive news for the housing market starved of first time buyers with enough of a deposit to take that all important first step and should encourage a generation of new savers and we commend this to the house”.

To get in the queue for one of these new Help to Buy ISA products fill in the form here ISA Form

Rent to Own Scheme proposed by LibDems – Contractor Mortgages

Posted on March 16, 2015 by admin

Rent to Own Scheme

The LibDems have announced a new Rent to Own scheme before the coming General Election. This is to be implemented between 2015 and the next election in 2020.

It is for first time buyers, especially those who cannot put together the deposit for their first home.

They have designed the new Rent To Own scheme to help new buyers to build up a stake in their homes via renting.

First Time Buyers

Getting started in the market is a huge problem for first time buyers. The typical first time buyer in London will need a deposit of over £60,000 if they wan to buy their first home.

They would pay what they would pay in rent, at a market rate, for 30 years. After that they would own their own home.

There would be something at the end of it for them – ownership of their own home.

Dream of Home Ownership

According to Nick Clegg, the LibDem leader:-

“For working young people the dream of home ownership is increasingly out of reach. Prices are so high renters cannot afford to save for a deposit, which means they can never take that first step onto the housing ladder.

“Rent to Own will mean, regardless of their background and family circumstance, they will be able to make this a dream a reality. This is about building a stronger economy and fairer society, and making sure Generation Rent has the same opportunity to get on in life as their parents and grandparents before them.”

Higher Monthly Payments

It is expected that the monthly payments for Rent To Own will be higher than if they took out a mortgage on the property.

It is being suggested that, in London anyway, it will mainly benefit those on higher incomes.

The Housing associations would build the new houses for the Rent to Own scheme.

The LibDems plan to have 30,000 homes in the Rent to Own scheme by 2020.

Paying Rent

While they will be paying more than mortgage holders for their properties there will still be people who benefit out there.

There are millions of people who have been paying rent on their houses for years out there. The very cost of the rent prevents them from being able to save up for a mortgage deposit.

They might as well have been paying that rent towards being able to own the house after 30 years.

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