We want you to have a choice – Rent or Buy!
Could buying your home be the right choice for you?
There is the potential for you to reduce your monthly housing costs by buying your home, if you are able and wish to do so. All you have to do is rent a home with us for over four years.
As a valued customer to Prince Bishops Homes, you are under no obligation to buy your home. Many of our customers are happy to continue renting, because of their personal circumstances as it often suits lifestyle choices.
The attached table gives you an approximate idea of costs to buy your home, to enable you to compare costs of renting vs. buying:
|Average house||Average price to buy||Approx Monthly costs with a 5% deposit||Approx Monthly costs with 10% deposit||Approx Monthly costs with 15% deposit|
These figures are based on average costs to buy a standard home and a mortgage with a 30-year term on a two-year fixed rate mortgage with no valuation or arrangement fee. These figures do not include the benefit of help to buy assistance. The numbers are meant to provide you with an indication of the costs to purchase a home compared to your current rental costs. They do not take personal financial circumstances into account and are based on mortgage products available in January 2016.