A TRIED AND TESTED ALTERNATIVE TO REPOSSESSION!

Introduction

• Fast Track Homebuyers will give the customer a guaranteed option to buy back their home at a fixed discounted price to the market value at completion.  The Buy Back option can be exercised at 2 years from completion.
• The Sale, Rent Back and Buy Back product allows customers facing repossession to sell their home at a price that will redeem all their secured debt.
• The customer can then rent their home back, with a fixed price contract to buy back within an agreed period.
• If the customer does not exercise their buy back option, the customer can continue to rent back their home.

FAST TRACK HOMEBUYERS CAN STOP REPOSSESSION UP TO 1 HOUR PRIOR TO EVICTION!

How does it work?

Purchase

• From initial enquiry a decision in principle is given immediately.
• If successful, a representative of Fast Track Homebuyers will arrange a personal inspection of the property within 12 hours or sooner.
• Fast Track Homebuyers will make a verbal offer to the customer, followed by a formal offer in writing.
• The customer meets with their solicitor to consider and understand all aspects of the transaction.
• Exchange of contracts and completion take place within an agreed timetable.
  

Rent Back

• The customer can rent their home back under an Assured Shorthold Tenancy agreement.
• The customer is charged rent at market rate or below.
• The customer has no responsibility for the maintenance of the building.
• Fast Track Homebuyers will take on the following responsibilities:-
  • Buildings insurance
  • A British Gas 3 Star maintenance contract to take care of the boiler, central heating system, plumbing, drains and electrics
  • Dedicated repair and maintenance service at no-charge for any reported faults
    

Buy Back

• Fast Track Homebuyers will give the customer a unique guaranteed option to buy back their home as a fixed price at any time in the next three years from completion.
• The customer can then choose whether to buy back their home at any time during the option period, with the guarantee that if the house price has increased the buy-back price is fixed. The customer keeps any new equity in the home therefore benefiting from any new equity in the home during the option period.
• If the customer does not exercise the option agreement they can continue to rent their home back under the Assured Shorthold Tenancy agreement.
  

The Legal Process

• As part of the transactional process both Fast Track Homebuyers and the customer must receive independent legal advice and representation.
• The customer can choose from a panel of Fast Track Homebuyers Law Society registered solicitors to act for them. Fast Track Homebuyers will pay all costs. All vendor solicitors have the experience and expertise to handle multiple property transactions with the minimum of fuss and delay.
• All panel solicitors have the experience and understanding of Fast Track Homebuyers to conduct the exchange and completion of the sale within 48 hours.
• If the customer uses their own solicitor Fast Track Homebuyers will provide £500 towards the costs [paid on completion].

Qualification Criteria

Property

• Property value up to £500,000, located in England and Wales.
• Properties of a higher value will be considered on a case by case basis.
• The property must be of standard construction and mortgageable.
• Non standard construction property will be reviewed on a case by case basis, subject to a structural survey.
• Acceptable properties for the Sale, Rent Back and Buy Back product include:-
  • Private standard freehold and leasehold houses, bungalows and flats
  • Studios
  • Shop uppers
  • Low rise ex-local authority flats [not over 4-5 floors]
  • Ex-local authority houses
  • Properties in need of part or full refurbishment
    

The Benefits for the Customer

• Although the price for which the property is purchased by Fast Track Homebuyers will not be at full market value, the ability for the customer to remain in their home, as opposed to being forced to move out, with a future option to buy back when they are more financially secure, will usually represent best overall value.
• The customer has the security and peace of mind of a guaranteed legally binding sale and the comfort of not having to move out of their home.
• The customer pays an affordable monthly rent, significantly less than their mortgage repayment.
• Fast Track Homebuyers do not charge fees, in fact we cover all costs, including legal representation.
• The customer has the ability to buy back their home at a fixed price in the future when they are more financially secure.
• The customer receives no further adverse credit ratings and throughout the buy back option period the customer’s credit rating should improve.
• Complete privacy - no one apart from Fast Track Homebuyers, the Bank and the customer need know the house has been sold.

CALL FAST TRACK HOMEBUYERS FOR AN IMMEDIATE DECISION IN PRINCIPLE ON
0845 257 1683 [24 HOURS – 7 DAYS A WEEK] OR CLICK HERE