Homeowners Beware of Risky Lease Deals
Experts warn homeowners desperate to sell against making a risky deal with investors. Adrian Goldberg investigates.
Adrian Goldberg investigates a new type of property deal that experts warn is highly risky.
People struggling to sell their home are being approached by investors who want to take a 'lease option' on their property - the would-be sellers agree a price that the investor can buy the house at, at a future date, and the investor agrees to cover the mortgage payments in the meantime, so the owners can move out and move on.
It could be a win-win situation, but experts warn that this is an unregulated area and sellers could end up losing out - and even losing their home.