I listened to a programme on Radio 5 Live a few days ago that investigated how “Property Investor and Guru” Phil Martin had left a couple close to bankruptcy after agreeing a lease option on their property.
In a nutshell he agreed to take an option to buy the property at a future date and pay their mortgage until he bought it. Not only did he fail to make the mortgage payments but he rented the property to a tenant who didn’t pay the rent and can only be evicted through the usual slow legal process!
People sometimes ask me if our Rent to Buy scheme is a “lease option deal” under a different name. Continue reading Is Rent to Buy Just Another Dodgy Lease Option Scheme?