A 1% non-refundable deposit is required to enter into a Rent to Buy Contract. This deposit forms part of your purchase price when you commit to your purchase at the end of 12 months.
At the end of the 12 months you can choose to:
Purchase - Based on the example above, you purchase the property for £275,000 and McCarrick Homes provides £14,150 towards your deposit.
Continue Rental - You decide not to purchase, you forfeit the monies paid to date and continue to rent as normal
Terminate Agreement - You decide not to purchase and not to rent the property and move out with no further commitment
We hope you chose to purchase with Rent to Deposit but want to make it quite clear that you are not tied in should you decide otherwise..