Alternatives to Mortgages Above 90%: Rent-to-Own Option by Gradual Homes

When the increase in rates and the demands of the banks prevent obtaining a mortgage, there are financial alternatives capable of providing the desired home. One of these options is the rental with the right to purchase offered by Gradual Homes, a company that allows you to start the purchase of flats, with a value between 100,000 and 400,000 euros, located in the capital Madrid and adjacent areas, brand new or secondhand. The mechanism promoted by the company is one of the alternatives to mortgages above 90%, which combines the flexibility of a rental with savings to finance the home.

trade in an easy way

By choosing the Gradual Homes rent-to-own proposal, the client will not have to give up their lifestyle and will be able to buy the home little by little. Being a company belonging to the Prynconsa Group, one of the most prestigious builders and developers in Spain, Gradual has extensive experience in the real estate market carrying out rent-to-purchase operations.

The rental process with the right to purchase begins when the person, whose monthly income exceeds 1,500 euros, chooses the home they wish to acquire according to the characteristics proposed by Gradual Homes. Next, the company will negotiate with the owners and will only require the future tenant a contribution equivalent to 5% of the total cost of the home, since it will be the company that buys the home for him. In this way, the person interested in buying will pay a rent to Gradual Homes for an amount of which 30% will be used as savings for the future purchase, which must be done within a maximum period of 7 years.

The initial amount and the discount of 30% of the rent for savings, will allow the tenant to have enough capital in a few years to be approved for a traditional mortgage, always with the administrative support of Gradual Homes.

Know the advantages

Among the many advantages of this type of alternative to mortgages above 90%, the fact that Gradual Homes guarantees a fair rent, without surprises or unforeseen increases, stands out. Likewise, the price of the house will be fixed from the first moment of the negotiation, so that the tenant will know the amount that must be collected to start the purchase process, after a minimum of three years of being rented.

Another benefit of managing the home with this company is that the tenant will fully enjoy the property as if they had already paid for it, with the freedom to paint it, make small reforms and change aspects of the decoration.

When an individual has found the home of their dreams and does not have enough liquidity to request a mortgage, the Gradual Homes team will take care of buying the property and renting it with a plan tailored to that person.