Have you heard of a rent to buy scheme? If you are a first time buyer who is put off by the large deposits that mortgage lenders need then you may wish to continue reading. Companies offering this scheme allow you to move into property that you are going to buy, by first renting it. This means you are able to move in straight away and treat the home as your own and then buy the property at a date set after the rental period.

When you rent to buy you are able to make alternations to the property and of course anything you do that adds equity onto the property is a bonus when you purchase the property. However you are not tied into the deal if your circumstances should change. For instance if one partner lost their income and found themselves out of work. If this happened and the rental period was up you could choose to just walk away from the property and not have anything else to pay. You might look at it like trying on a garment that looks great on the hanger in the shop but you change your mind when you try it on. For instance if you do not get on with your neighbours you are not stuck with them as you do not have to buy,