• Instalment Contracts | Don’t trick the system.. Use the System!

    page-idDon’t resort to mortgage fraud to get your foot onto the property ladder – instalment contracts could be the answer

    According to Experian, 43 out of every 10,000 mortgage applications are expected to be fraudulent during 2013, this is a significant rise on 2012 where 38 in every 10,000 was fraudulent.

    Most of these applications are likely to come from those misrepresenting their financial situation and employment details, and those trying to hide an unfavourable credit rating.

    Buyers should look at alternative ways of getting onto the property ladder rather than committing mortgage fraud.

    Common reasons for committing mortgage fraud may be because buyers don’t meet lending criteria such as have a large deposit, sufficient income, they are self-employed, new to the country and/or have bad or little credit history.

    I help individuals who fall into this category by virtue of little known solutions called a property lease option or instalment contract, both of which are extremely flexible.

    By becoming tenant-buyers they are able to get onto the property ladder now with a small deposit and monthly payments with a view to buy in the future. Buyers need not worry about the lenders stringent criteria.

    How I helped my mentee secure his Dream Home and pocket in excess of £3000/month cashflow with an Instalment Contract
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    The other advantages of doing it this way is that the buyers have the time to resolve any credit issues they may have or save up for a deposit etc.

    It is as simple as finding a property that suits the buyers needs, agreeing a price with the seller and monthly instalments, solicitors then draw up contracts to protect the buyer and the seller, the buyer moves in with a small up front deposit and continues to make the monthly payments until they are able to buy the property. Part of the monthly payments will go towards purchasing the property.

    In the meantime they can redecorate or renovate as they wish to make it their home. The buyer would directly benefit from any increase in price as a result of this.

    This can work for anyone whether you want to buy in the short term or the long term. The benefit is that you are securing the property now and you don’t need to worry about the prices going up.

    If you would like to discuss property lease options as an investment strategy, give Reena a call on 0203 397 7030 or request a call back.

    Testimonials

    I have completed 5 deals in the last 8 months but could not have achieved this without the care and support that Reena has given me, she has held my and through every step of the way. Reena is the real deal and I credit all my success to her!.. Neil Edmunson

    We weren’t doing any deals until we came on board Reena’s Mentorship Programme. The progression made with Reena’s Guidance has been absolutely massive and by adopting her marketing techniques we have had huge success, she has also helped monopolise the leads we generate. Reena’s never let us down and has been the most fantastic mentor!.. Bill and Darren Patel

    About Reena Malra

    Connect with me: Google+ Reena Malra is one of the UKs most successful property investors and mentors. The strategies Reena has discovered and developed over the past few years take the focus off the price and put it on the flexible and convenient payment terms. This is how Reena can structure transactions to really benefit both the buyer and the seller. Reena specialises in property lease options, instalment contracts, rent torent, below market value (BMV), stopping repossessions, joint venture, delayed completion and tenant buyer strategies. She also runsworkshops and webinars, and offers property consultancy services and one-to-one mentoring.

    View all posts by Reena Malra

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