“R2B”
R2B
R2B Property Programme by R2B Properties Ltd ________________________________________
Thought you couldn’t afford to buy a home? Think again!
“Rent 2 Buy” will change your mind!
R2B PROPERTIES LTD
R2B
Copyrights. Any reproduction of this brochure, in part or as a whole publication is strictly prohibited and can not be stored in a retrieval media or system of any kind without the prior permission in writing of the R2B Properties Ltd management. Enquires in regards to such permission should be made in writing directly to the
R2B Properties Ltd B&A CENTRE 43-45 Portman Square London W1H 6HN
According to the Section 107 of the Copyright Design and Patents Act 1988 which makes it a criminal offence to perform certain acts in relation to copyright material, without authorisation. R2B Properties Ltd may take legal action against any company or a person responsible for any unauthorised storage in a retrieval media or system as well as for any unauthorised reproduction. Indemnity. Our aim is to provide reliable information to our Clients in regards to the R2B Programme and other subjects covered by this publication; however, neither R2B Properties Ltd nor its employees, representatives or publishers can be held responsible for any loss or any kind of damage which may result from the information included in the brochure, whether it applies to whole or a part of it and have been caused directly or indirectly by the above publication. Any information which can help us maintaining the accuracy of the information in the future updates of the publication would be appreciated.
Š R2B Properties Ltd. All Copyrights Reserved.
R2B PROPERTIES LTD
R2B
Dear Homebuyer, We would like to welcome you to the R2B Property Programme and we hope this brochure will help you understand the ideas and previous successes that prompted us to establish and promote this fantastic opportunity. In short, whilst not running a charity business - we are championing a ‘customer-focused’ Housing Programme. If you are reading this for the first time, a particularly warm welcome to our vibrant society. The brochure tells you about the benefits of becoming an R2B Property Programme Participant, on the way to reaching the most important life target for us all – a home of our own. We hope you will find this publication helpful, interesting and easy to understand. Equally, if you have any suggestions about how we can further improve the quality of our services or product information, we would be pleased to hear from you. The last page of this brochure provides information on how, where and when you can reach R2B Programme Consultants for more information, or to discuss any issues you may have.
R2B Properties Ltd
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CONTENTS
Contents ► ► ► ► ► ► ► ► ► ►
welcome.......................................................................................................1 contents........................................................................................................2 introduction...................................................................................................3 rent to buy....................................................................................................4 our programme.............................................................................................5 advantages...................................................................................................6 disadvantage................................................................................................7 what next?....................................................................................................8 case studies.................................................................................................9 notes..........................................................................................................12
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INTRODUCTION
R2B
More than ever before, we are seeing evidence of a global recession and it is clear that there will be no quick fix. Salaries are being frozen, if not cut and with interest rates rising it can be the final straw for those already struggling with their mortgage negative equity and repossession are now common terms. With the property market in a slump, homeowners are unable to sell and if they do they may still end up out of pocket but if they don’t it will be repossessed anyway. So how would you like to own your own home without this risk? Also, a recent study found that it takes approximately 10 years to save the deposit for a house in the current climate and that’s not including all the fees, etc. So how would you like to own your own home without this hassle? Debt, especially student debt, is soaring out of control and debt can have a major impact on the amount of money you can borrow, that is, IF you get approved at all. In order for you to be considered for a mortgage you must pay an arrangement fee which is non-refundable even if you are refused. But debt will adversely affect your mortgage offer - for instance, if you earn £25k you may be approved 3x this for a mortgage, which would equate to £75k. (Not bad you think) but if you owe £10k say on student loans, your facility would be reduced to £65k. In other words any debt you have will be deducted from the amount you can borrow. But with R2B Property Programme there is no requirement for a mortgage and the deposit is collected in 48 monthly small and manageable instalments after initial payment, making this the time more than ever for R2B Property Programme to work... and work very well!
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RENT 2 BUY
R2B
As we are all probably aware, Rent To Buy schemes have been successfully operating in the USA, Australia and some EU countries for over 25 years. Now in the UK, Rent To Buy schemes are generally helping home buyers, including many first time buyers to purchase properties without the stringent restrictions applied via the normal mortgaged route. Your run-of-the-mill Rent To Buy schemes have helped people who are finding it difficult to gather enough funds to pay deposits of between 5 - 25%, those whose current credit score is too low to obtain a mortgage, or who recently came to live in the UK, and even who can’t arrange any finance due to bankruptcy. We can help, too! But again – run-of-the-mill schemes will usually ask you to provide a credit score and pay out large sums of money even before the process starts. More importantly, you WILL be required to take responsibility for the mortgage, at some point in time. On the top of all of this - you have to find your own house and it has to be available for the scheme. More importantly, you risk rising rents, soaring deposits and considerable legal costs, as well as an insecure future if you’re entering into a run-of-the-mill scheme. You may well ask “Well, aren’t R2B Property Programme the same as these other schemes?’” The answer is simple “No, we are NOT” - and here’s why...
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OUR PROGRAMME
R2B
To explain - you may have been given many of reasons why you have been refused a mortgage but with us you don’t need a mortgage - EVER. The first distinction between R2B and the estate agents, financial advisors and banks is that we will never ask you about mortgage arrangements. More importantly - we will guarantee you a Property Programme with safe, flexible and manageable repayments. Our Rent 2 Buy (R2B) Property Programme is designed to allow YOU to purchase rented property without stretching your budget beyond your means; enabling you to rent an R2B property that ultimately you want to own, whereby your rent from the first month will be considered as regular loan repayments against the property. So, ultimately it allows you to use your entire rent similar to mortgage repayments. No more dead rent money – and this is a second difference. You are buying the property from day one - even before you move in. You can treat the property as your very own from the moment that you move in, but we would need to know if you planned to make any structural changes. How is this possible? You will soon find out and you will not be disappointed. Are there any more differences? Yes, there are. We really can help you to own your own home but without the usual hassle AND without the risk of repossession.
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ADVANTAGES
R2B
It would be unfair not to tell you about the disadvantages of R2B Property Programme but the pro’s far outweigh the con’s. Let’s start with some positive aspects of the R2B Property Programme… ► ► ► ► ► ► ► ► ► ► ► ► ► ► ► ► ►
no credit check no large deposit required no arrangement fee flexible tenancy instead of a mortgage 1st instalment of the deposit is only 0.3% (of average property price) remaining deposit covered within 48 convenient and manageable monthly instalments (by mutual consent) massive savings on legal fees straight forward agreements that are legally binding for your protection no risk of repossession at any time after 3 years of tenancy you can terminate your Programme Agreement and take your capital and deposit with you possible deed transfer at any time after 3 years of tenancy, although you can let R2B remain responsible if you so wish full - hustle free - inheritance in force subletting allowed keys as soon as a suitable property in your chosen location becomes available optional mutual exchange between properties (small admin fee will apply) your own choice of approximate neighbourhood free programme participation and no monthly fees
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DISADVATNAGES
R2B
...so let’s go through the less popular points... ► ► ► ► ►
minimum 3.5% deposit required (still less than that required by the banks and in small manageable instalments) approximately 12 to 24 months to move in minimum 3 year tenancy to become a tenent-buyer no new build properties premature deed transfer requires your own finance and you have to pay all the usual legal fees
We strongly believe that these minor issues will not put you off and you will still reach your ultimate goal - owning your own home - only with the help and advice of R2B Property Programme.
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WHAT NEXT?
R2B
So having already spoken to one of our consultants, you should now understand how the R2B Property Programme can help you, if not, there is nothing worse than a lack of knowledge - especially where your finances are concerned – just take time to familiarise yourself with the R2B Property Programme – if in doubt call one of our advisors who will be happy to discuss the Programme further. Going back to the top… as you are already familiar with the basics - in the next few bullet points we’ll try to explain step by step how to benefit from the R2B Property Programme: ► ► ►
firstly as a Prospective Tenant-Buyer, you will need to apply for Registration with the R2B Property Programme ● you can ask any of our advisors or consultants to provide you with an application form ● participation in the R2B Property Programme is free but to backup your commitment to the Programme an initial instalment of £495.00 of your Deposit Plan is payable ● you will receive a decision on your Application for Registration within a maximum of 28 days of your application secondly, if successful, you will need to start to save towards your deposit thirdly, on completion of your first year of the Deposit Plan you will receive information about all available properties in your designated area(s) ● once you have made your choice R2B’s administration team will prepare all the necessary documentation including your tenancy agreement and terms of your R2B Property Programme participation - your tenancy has now began
If you have any additional queries please do not hesitate to contact the office or call your local area consultant - we will be more than happy to help you in any way we can - after all its our job to make your life easier
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CASE STUDIES
R2B
Warren Warren is a 34 year old single, self-employed man who has been privately renting for most of his adult life. It annoyed him that despite earning a decent wage he was throwing good money away every month on rent, what annoyed him more though was that his rent was more expensive than mortgage repayments for similar properties in his area. Try as he might, being self-employed he was unable to get a mortgage application accepted as he struggled to meet their criteria. Then he heard through friends about the R2B Property Programme and decided to find out more. He made the initial enquiries to the office and arrangements were made for an R2B consultant to visit him at home to discuss the programme further. The fact that he could spread the deposit over 48 months meant that he could afford to pay his rent and cover the deposit whilst his ideal property was found. He was also delighted to discover that he could sub-let the property so advertised for lodgers. He registered with R2B that very day. When his property was ready to move in to, he had lodgers waiting which covered his part of the rent so he was living rent free and realising his goal - owning his own home. Warren said ‘At first the thought of paying ÂŁ495.00 of the initial payment put me off a bit, but its the best money I have ever saved. I feel like a landlord now, taking rent off my lodgers and making a profit from rent. It feels great!!!’
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CASE STUDIES
R2B
Aaran & Natalie Aaran & Natalie are childhood sweethearts who have just completed their university degrees. After spending 3 years apart they are eager to move in together. Despite now both having professional careers, they are struggling to save for the substantial deposit whilst renting, cannot provide a solid work history and have accumulated quite substantial debt in the form of student loans. Banks and lenders have refused their many applications and this has adversely affected their credit score. However, after renting whilst at university they are adamant they want a place of their own. They registered with R2B Property Programme, paid the fee and after receiving their Acceptance Letter, paid the first instalment of the deposit. Natalie works in Worcester and Aaran works in Birmingham so they were able to extend their search between these 2 locations which improved their chances of getting a suitable property. Between them, they were able to pay the remainder of the deposit within 12 months. Luckily for them, just 3 months after they had completed their Deposit Plan, they moved into to their first house together. This speedy outcome was achieved because they had given various locations throughout the Midlands which made finding an available property easier. After the three year tenancy they opted to transfer the deeds and to celebrate finally getting on the property ladder they recently got engaged to be married and held the party in their very own home. They said ‘Without R2B we simply would never have got onto the property ladder. Now we are looking forward to a future together in our own home. We would recommend the R2B Property Programme to anyone’ Congratulations to Aaran and Natalie
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CASE STUDIES
R2B
Rachel Rachel is a single mother. She has spent the last five years residing in England, determined to work her way up through the retail company she works for, with hope that one day she would obtain a mortgage to start to build a new life and future for herself and her daughter. After being refused mortgages by various lenders due to a low single income and already out of pocket by £500+ for arrangement fees, she was referred to R2B Properties by a colleague. After contacting R2B Properties her mind was soon put to rest that she could afford and maintain the payments required. Rachel found the Deposit Plan manageable even on a low wage and she was able to afford the first part of her deposit. After spreading the remaining deposit over a 48 month period, she was able to search and find a suitable first time property within her budget. Being recently refurbished she could move into her new property immediately without anymore costs incurred through decoration as the refurbishment has been carried out to the highest standard by the R2B team. Within weeks Rachel and her daughter were settled and looking forward to making the home their own. She said ‘I’m now living the life I had always dreamed of for myself and my daughter. More important than that though is I am investing in my daughter’s future’
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NOTES
R2B
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R2B PROPERTIES LTD
R2B PROPERTIES LTD B&A CENTRE 1 Victoria Square Birmingham West Midlands B1 1BD
e.: enquiries@R2BProperties.co.uk t.: 0121 288 5577 f.: 0121 210 7735 www.R2BProperties.co.uk
Our usual office opening hours are between 9am and 5pm but you can reach us at any reasonable time on our mobile number: 0785 303 1117 We will be more than happy to spend some more time with you.
www.R2BProperties.co.uk