A Tenant Buyer is someone who secures a property to own by way of a small deposit and then completes on it during a specific timeframe (i.e. 5, 7 10 years).  The tenant homebuyer status gives all the benefits of home ownership but without the need of having to secure a mortgage at the start of the contract.  The small upfront 5% deposit is the only amount paid for by the Tenant Buyer and has enabled the Tenant Buyer to have the opportunity of buying a property they otherwise would not have been able to secure.  Many people who have very good salaries and professions are unable to obtain a mortgage in the UK if they have not lived long enough in the country.

The benefits for a Tenant Buyer are:

• Avoids having to rent until sufficient funds are available to purchase
• Allows 100% ownership from day one of the contract
• Avoids having to save for a large deposit in an escalating property market
• There is complete flexibility on when to complete the purchase (i.e. 3, 5, 7 or even 10 years) if required.
• Allows a Tenant Buyer to live in a property which they would not otherwise be able to afford
• Any cash injected into the property for renovation or maintenance is not lost as any improvements made which improve the value of the property will ultimately benefit the Tenant Buyer
• No mortgage is required at the outset of the contract

Requirements for Tenant Buyer:

• Can qualify for a mortgage in principle
• Have no adverse credit, CCJ’s or bankruptcy orders