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?
In May of this year, Property118.com published my article entitled “How to get your property portfolio off death row”. I explained how having realised how vulnerable I was to base rate increases, I took action to dramatically improve the returns on my portfolio.
With interest rates at a historic low, guest article writer Glen Ackroyd from National Property Group explains the steps he’s taking to protect his buy to let property portfolio from inevitable interest rate rises and taking his portfolio off “death row”.
In September 2008 I was having what was supposed to be my dream holiday. Like many others, I had ridden the wave of the credit boom and had acquired a large property portfolio. At the height of my success I was staying in a private villa in an island in the Bahamas, fronting onto the harbour, with millionaires’ yachts and Hollywood film stars for neighbours. Surely, life just couldn’t get any better?
Continue reading How to get your property portfolio off “death row”
Housing minister Grant Shapps has publically backed a web site advertising rent-to-buy homes.
The scheme seems to promote lease option purchases that are popular in the US and Australia but rarely seen in the UK.
The web site – www.tryitbuyitproperty.com – matches homeowners who have problems selling with potential buyers who cannot raise a mortgage. Continue reading Housing minister backs rent-to-buy lease options web site