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rent to buy

  • 02-01-2022 7:33pm
    Registered Users Posts: 9,647 ✭✭✭ cena

    I have been in the same house renting. I am thinking of asking the owner if we can rent to buy on top of the rent I have paid over the last ten years.

    Would any landlord go for something like this


  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 61,711 Mod ✭✭✭✭ L1011

    Its exceptionally unlikely.

    Do you intend to continue paying them for the entire term, or get a mortgage? As any rent-to-buy 'balance' is not going to be considered a deposit by a lender for starters.

  • Registered Users Posts: 2,710 ✭✭✭ Deeec

    Why would any landlord go for this? What would the advantage be for the landlord - I can't see any being honest.

    What is the current market value the of the house you are living in and what would your offer to the landlord be?

  • Registered Users Posts: 73,703 ✭✭✭✭ Atlantic Dawn

    From a tax point of view for the owner it would make no sense whatsoever, every extra €1 you will give towards buying will be only circa 50c towards buying it.

  • Registered Users Posts: 9,647 ✭✭✭ cena

    165,000 but the house needs a lot work to fix a number of problems

  • Registered Users Posts: 216 ✭✭ The Buster

    The landlord would be crazy to go for this but I suppose no harm in asking.

    Out of interest how would you propose structuring this? How is the landlord paid for the house? When do you take ownership? Who looks after repairs / insurance etc...

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