The Benefits of “Part Buy Part Rent” Property

‘Part Buy Part Rent’ is perhaps more commonly known in the public domain as ‘shared ownership’ and it means that you own part of a property, whereas the lender owns the other part. Often this is split in a 50/50 or 60/40 percentage.

When you buy a property on a part buy part rent scheme you don’t own all of the property, but there are many benefits to doing this that make it worthwhile. For example, with a part buy part rent scheme you wouldn’t require as much deposit, which is useful now that mortgages are becoming very strict on deposits and most lenders require at least 10%, some rising to 40% for the best mortgage deals. (more…)