|  |  | | Housing Heroes Pty Ltd has helped many families achieve home ownership.
Our ability to provide credible, market-friendly progams to help people buy a home is the very reason Housing Heroes Pty Ltd is considered a market leader in the Rent-To-Own industry.
The current property market means Rent-To-Own programs are more popular then ever as banks are making it tough to get bank finance right now. With the Live-In Layby, you can get the house now, and worry about the finance later.
How It Works:
The Live-In Layby process is very simple:
The Owner agrees to sell you the house at market value.
This price is fixed for either 12 or 18 mths (depending on the property and the owner's wishes for that house).
You pay the Owner a deposit that "locks in" the price of the home and secures your right to purchase it.
The Owner cannot sell to anyone else during that 12-18 mths; even if the property doubled in value.
(If the property did double in value, you would only have to pay the amount as agreed. You keep any profits).
During the 12-18 mths, you have the EXCLUSIVE right (but not the obligation) to buy the home at any time for the agreed amount.
Part of the weekly rental amount is credited towards the purchase price; which you can use as a deposit if you decide to buy the home.
The weekly credit amount is calculated on a house by house basis.
You can cosmetically renovate the houses as much as you want during the period (any structural alterations need to be approved and must go through council as and when required legally). As far as we are concerned it's your house so you can "customise" it to your tastes.
Neither Housing Heroes Pty Ltd nor the owner are offering you credit. It is not a credit contract, and we are not credit providers. However we do want to show a bank that your family budget can meet repayments at normal bank interest rates, and therefore we calculate your weekly payment to be the same as what the bank would charge you if you had a loan. We use a notional interest rate of 7.99% (for most cases) which is a very reasonable rate.
This is actually a much better deal than the banks. If a bank charged you 7.99% interest on an actual loan, you would not receive any credit for any part of the weekly payment (it would be pure profit for the bank). Under the Live-In Layby, part of that weekly payment comes directly off the purchase price if you decide to buy the home).
Because this program is focused on achieving home ownership and is the ultimate Try Before You Buy, you would be responsible for all usual government and other charges that are involved in owning a home. These include things like rates, insurance, maintenance, land tax, water, etc...
You also have the freedom and ability to walk away at any time (7 days notice required) if you decide you don't want to purchase the home for any reason whatsoever.
This gives you a situation which is as close to "RISK FREE" as possible under a Rent-To-Own program. As long as there are no owed weekly payments outstanding, and the house is returned in a clean and tidy condition, you are able to walk away without ANY impact on your credit rating or rental reference history.
If you tried to walk away from a bank loan you couldn't, the bank would foreclose and even bankrupt you if they wanted to. Our Live-In Layby™ program is much fairer.
This is excellent program and may be one of the only ways you and your family can purchase a home in the current environment. Once the property prices recover and kick off again, they can double very quickly as we all saw in the last boom. If you aren't ready to go at that time, you might miss out completely.
[PLEASE NOTE: NO guarantees are given or offered by either Housing Heroes Pty Ltd or the property Owners with regard to future market values, property cycles or any other matters involved with the property market. All potential home buyers are encouraged to seek their own independent advice on any questions or concerns they have].
To see any houses available on the Live-In Layby™ program, click on the "Homes For Sale" tab. Each house will nominate if it is either for sale (outright), or available on the Live-In Layby™ program.
To apply for a home, click on the link "Apply For Homes Here".
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