WEBSITE REFERENCE: UKPS 117984

A great opportunity to Rent and then Purchase one of 6 luxury apartments through a 'Rent to Buy' or 'Lease Option' purchase. With only a 3% deposit you can secure this property now. Move in and save towards your deposit to complete in 5 years time.

• Description: This luxury apartment, approx.825sq ft, comprises two double bedrooms, two bathrooms, one of which is en-suite, a fully fitted contemporary kitchen with quality units, granite worktops and Siemens appliances including a fan assisted oven, fridge/freezer, washer /dryer, dishwasher, extractor fan & hood and 5-ring hob. The sumptuous luxury bathroom and en-suite are both fully fitted with contemporary designed features in neutral tones to maximise relaxation.
  
• The large living room, is fitted with a wall mounted TV bracket to hold a flat screen TV up to 40. (If interested, you can hire the existing 40 Samsung HDTV with Freeview built in, for an additional £25pcm.)
  
• The apartment is both satellite & broadband ready, is fully carpeted throughout and ready to move into now. There is 24/7 CCTV security and a smart personal alarm system, along with secure private parking.
  
• The development itself is located just minutes from the mainline train station, with direct services to central London, Gatwick airport, Horsham, Chichester and Portsmouth etc. Easy access by road to Arundel, Brighton, Chichester, Guildford, Worthing and the South Coast. The local shops include a medical centre & supermarkets, and within approximately 5 minutes walk, you will be on the South Downs.
  
• For a Normal Sale today, prices are the following.
  
• A1 £235 000
  
• A2 £235 000
  
• A3 £249 995
  
• A4 £249 995
  
• A5 £215 000
  
• A6 £215 000
  
• Each of the above includes one allocated secure parking space.
  
• If you want to purchase both A3 and A4 together as a double unit, the price is £475 000.
  
• (Offering 4 bedrooms, 3 en-suits, and 2 seperate bathrooms, a seperate Living room, a Dining Room, Kitchen and Utility/laundry Room.
  
• Plus 2 allocated parking spaces.)
  
• Similarly we can offer the two double units on the top floor at £410 000. This will have excellant views over the Coombelands/Little Hill Gallops.
  
• 
  
• Lease Option Information:
  
• LEASE OPTION DETAILS for Flat 5 or 6. Due to the convenience of this method of purchase, the price would reflect an increase as it only completes in 5 years time.
  
• Move in Now - Buy Later with our 'Rent to Buy' plan.
  
• This is how it works:
  
• Property Purchase Price £249 995 This price is the agreed purchase price of the property, set at the beginning of the negotiations.
  
• Initial Option Fee/Deposit (3%) £7499.85 The Initial Option Fee, buys you the option to purchase the property at any time, up to 5 years, at the fixed Property Purchase Price that is agreed at the beginning. This is also a deposit and counts towards the property value.
  
• Monthly Rental £800 This is the normal rental premium to be paid each month.
  
• Monthly Option Fee £150 This is an additional premium which is added to your deposit each month, and counts towards the property value. At the end of each year, you will have saved the following amount towards the property.
  
• Monthly allowance from Property Owner towards deposit - £150
  
• Total Saved at end of Year 1 £11,099.85
  
• Total Saved at end of Year 2 £14,699.85
  
• Total Saved at end of Year 3 £18,299.85
  
• Total Saved at end of Year 4 £21,899.85
  
• Total Saved at end of Year 5 £25,499.85
  
• This amounts to approximately 10% towards your purchase price. You of course can save additional money towards the deposit.
  
• BENEFITS INCLUDE SOME OF THE FOLLOWING:On average House Prices increase over the years.
  
• The purchase price is fixed at the outset. You gain from any price growth!
  
• No mortgage is required until you complete at the end of the period, however, you may choose to complete sooner.
  
• Price growth and option payments provide your deposit. You can choose to pay more each month to save towards your deposit.
  
• Redecorate, carry out home DIY - YOU benefit from any added value by enhancing YOUR home.
  
• Quick and Easy sales transaction: You can move into your new home in as little as 7-14 days.
  
• We recommend that you take legal advice and can recommend a panel of solicitors experienced in Lease Options/Rent to Buy if your own solicitor is not familiar with the concept.
  
• IF CIRCUMSTANCES CHANGE OR YOU CHANGE YOUR MIND, YOU CAN DO ONE OF THE FOLLOWING:
  
• Negotiate for an extension of the Lease Option for a further 5 year period.
  
• Decide not to take up the completion process and walk away; however, you will forfeit the initial deposit and savings towards the Purchase Price.
  
• Pass on the Option on or sell the property, often for more than you paid.
  
• PERFECT IF YOU ARE EITHER: A first time buyer struggling to get onto the housing market Struggling to raise a large deposit Currently renting but want to own your own home Have impaired credit and can't raise finance Have recently moved to the UK
  
• This method of purchase is like buying a house on Hire Purchase, and is perfectly legal and not to be confused with other housing schemes like a Shared Ownership or any Housing Association scheme.
  
• Note: It is known through statistics that properties generally increase in value and mostly double every 8-10 years.However, very conservatively if we only allow a 4% increase in value each year, the property would be worth the following:
  
• In year 1 - £259 994
  
• In year 2 - £270 394
  
• In year 3 - £281 210
  
• In year 4 - £292 458
  
• In year 5 - £304 157
  
• After completion with a mortgage, you could apply for a remortgage valuation based on comparables at that time, and based on the likely increased value then. You would have immediate equity which could be used to pay for improvements or as cash taken out to use for either another property purchase or to spend as you deem fit or sell the property on and pocket the difference.
  
• A possible projection of this scenario is:
  
• After the 5th year, the property value would be: £ 304 157
  
• 90% Loan would be: £273 741
  
• Therefore immediate equity would be: £23 746
  
• Additional costs to bear in mind.
  
• 1. Reference Fee of £150/person
  
• 2. Legal fees of approximately £600 max
  
• To secure this Option to Purchase a holding deposit and the reference fee is payable immediately.
  
• The legal process is very quick and simple and can be set up easily within 7-10 days of the agreed, signed Heads of Terms.
  
• 
  
• For further information please contact Vivien White of New Leaf Homes. newleaf-homes
• Luxury Living 2 Bed Apartment
• Close To Pulborough Mainline Station
• 2 Spacious Double Bedrooms
• Fully Fitted Contemporary Kitchen
• Sumptuous Bathrooms and En Suite
• 24/7 CCTV Security
• Private Gated Parking
• Satelite & Broadband Ready
• Exclusive To New Leaf Homes
• Close Proximity To All Amenities, Transport and Shops