A rent-to-buy agreement allows you to buy and move into your own new home in Spain with as little as a 3% deposit (or even less) with interest-free monthly payments during the rental period, without the need for a mortgage. It sounds almost too good to be true. But true it is!

As a seller, you have a lot to gain and very little to lose from rent-to-buy. It can facilitate a faster sale and if the property you wish to sell is empty, you will no longer be paying IBI, standing electricity charges, or for maintenance, gardening or looking after the pool. Not to mention alleviate worry about squatters or burglary. Instead, you can receive rent and dont have the normal worry and cost associated with waiting to sell a house. Instead of money going out, you will have money coming in.

For a buyer, there are any number of reasons to enter into a rent-to-buy agreement. It essentially allows you to get on with life before all the pieces of the puzzle are in place! Perhaps, you are waiting for a lump sum from your pension that will allow you to pay for the house at some definite time in the future. Or maybe you're hoping to sell a property in the UK and have found your dream home in Spain and don't want to miss out on a once-in-a-lifetime opportunity. Remember that we only live once!

Be creative! How about a rent-to-buy renovation project? While renting, complete the renovations and you will be able to resell, rent or perhaps use the newly renovated property as a vacation home. If you arrive on an NLV, there is no reason for you not to reform your own property. Rent-to-buy is suitable for all types of homes, from the cheapest to the most exclusive villas. Castle Homes specialize in rent-to-buy and can help you at all times. All you have to do is find a property and we will do the rest.

Whether you are a seller or a buyer, if rent-to-buy,sounds of interest get in touch. A rent-to-buy contract is legally binding and can be notarized, giving you iron-caste certainty. Please contact us to discuss in more detail or to arrange a viewing of one of our properties.

The Process

  • Agree on a sale/purchase price
  • Agree on a down payment in advance (usually between 3% and 10% of the purchase price)
  • Agree on a monthly rent (all of which will contribute to the purchase price)
  • Agree on a timeframe within which to purchase the property (usually 12 to 36 months)
  • Sign a contract based on previously agreed amounts
  • Move to your new home once contracts are signed
  • Purchase the property within the agreed timeframe with all rent paid deducted from the previously agreed purchase price
  • Classic win-win!

If rent-to-buy is not available, we can help you with a mortgage, through our partners, Mortgage Direct, who specialize in the expat market. Mortgage direct has experienced English speaking staff who truly understand the market in Spain and Portugal. We can also help you with safe and timely transfers from your pounds sterling to euros. GC Partners has specialized in the Spanish market for twenty years and offers competitive rates and a reliable and personalized service.

Check out our properties and contact us to discuss your rental options to buy, here.

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