A mortgage loan is the most traditional, and probably the smartest way, to buy a home. You're going through a bank for a loan and the monthly payments will be the same for 30 years.
And, don't forget, the interest payments on a mortgage are deductible on your tax return. If you can't qualify for a mortgage, there are non-traditional ways to buy a home. Here are some home financing options, if you do not or cannot qualify for a conventional home mortgage:
• Seller-Finance Mortgages (SFM)
This is what we offer in-house, and it's same as any high street conventional home mortgage, except that the property provider and home financing is the same entity right from the start. Our SFM even offers better advantages that what you may be used to. Learn more.
• Pension Mortgages
• Family Mortgages
• Commercial - Residential
• Rent to Buy / Rent to Own
A certain amount of the monthly rent would go toward credit for buying the home at the end of the contract, often within a year with other providers but can be extended up to 5yrs with our partner provider, Rent to Buy UK (rtb365).
• Buy to Let (1/4<Owner-Occupier)