How it works

Fed up with dead rent money?  Don’t want to just keep renting and burning money?  Not able to buy just yet?

Would you like to buy yourfuture property at an agreed price today? With all the advantages of owning your own home and watching your home grow in value, while you build a deposit to complete the sale?  Then read on.

At Optimum we offer solutions to many potential buyers who just cant quite get on the property ladder, or move up the ladder.You may be Short of a full deposit, Contract worker, Locum, Self Employed without three years accounts, not enough hours on your contract, Not enough credit history or had a credit issue at some time in the past, pretty much most circumstances have a solution.

We can help you all. We offer two levels of service to help youquickly become a homeowner, but more of this at the bottom, first lets explain how it all works and the obvious advantages to you.

There are many solutions to buying your own home, without the initial need of a bank. We specialise in finding and offering you your ideal property solution with sellers signed to our service that are willing to offer flexible buying options.

Optimum Solutions, allow you to agree a price at or close to today’s price to purchase at a later date. A ‘Buy now Pay later’ arrangement or Rent to Buy, gives you tremendous benefit of ‘freezing’ the price; allowing you time to build up a deposit to complete the sale at the agreed later date. You can complete before if you choose with no penalties.You effectively own your own home from the minute you sign the paperwork. On final completionthe house is signed over to you BUT with the added advantage that any equity above the agreed price is yours!

You will need some commitment money or “moving in money” but this is much less than what the banks will require at typically only 2/3% of the property value, though this can be negotiated, you must be able to afford the weekly or monthly costs along with the normal costs of owning your own home, while building more of a deposit. But all these costs are typically around the same level you would expect to pay just to rent the property, without the advantage of owning your own home. Most renters already know that they could pay the mortgage on the property they live in for less than the rent they are paying! Very, Very frustrating, but True. A change was needed, with better strategies and better solutions, that offer more flexibility and where you get to own what you’ve been paying for!  Welcome to Optimum Property Solutions.

Benefits to Buyer

  • Prices Frozen – much easier to buy at later date
  • No more dead money in rent.
  • Equity builds up in house for you!
  • Smaller ‘moving in money’ required.
  • Amount to borrow percentage in future potentially decreases
  • Monthly Option fees can be part refunded or included as equity at the completion date.
  • Home ownership is much faster
  • No banks are needed to start.

There are many options on how that agreement can be made. We work with you to find a perfect buying solution.Many Sellers have different circumstances that mean that using this type of arrangement is beneficial to them.

Any homethat you decide to buy through an Optimum Solution,iswritten by solicitors that have experience in these contracts to perfectly reflect the agreement you want and protect your best interests.

Solutions can be on arranged on a number of bases, but to give an idea of a few fundamentals;

Buy now – Pay later or Rent to buy. Works like a car lease, where you have a smaller figure up front to secure the car then monthly payments with a completion date or final purchasedate later on. This arrangement can also be referred to as a delayed sale completion option or vendor (seller)agreementswere very popular after the war when mortgages were hard to get. They have just been revamped to benefit both seller and buyer.

Its remarkably simple, an agreed price, an agreed monthly figure, an agreed date for completion, often allowing extensions if required. Allowing you to move into your new home, at greatly reduced costs and build a deposit as you go. Some banks may consider the built up equity as part of your deposit. However as a precaution we will always ensure that you have a deposit builder to run along side. There are no early purchase fees, should you decide to buy earlier. The typical time frame for these to run is 2 – 4 years.

Instalment Option- Works similar to lease option, not necessarily with a final payment and therefore may not include the need for a mortgage. They also differ that Instalments options are made to cover longerrequired periods. So if you need more time, these are perfect. These areuser friendly and offer a very low cost alternative to buying your home the traditional way.

Sweat Equity Optionor Handy Man Option. Is where the seller is willing to agree a reduction in the property price or agree a figure of discount for the buyer to renovate or refurbish the property. This works very well for sellers that bought at auction, inherited property or older properties for sale.  For the buyer the discounts made available for them completing the work are usually very good, at discounts of up to 2 times the actual cost of the work. This means that you are creating excellent additional value. Usually the work needs to be carried out before the buyer is allowed to move in. The buyer then works on a normal lease or instalment option to buy the property at an agreed date in the future. This is one of the quickest ways to build equity in your new property.

There are a number of variations to the above, but since all are individualised to you, we just wanted to give you a simple idea of how they work and how you can benefit.