TM

Frequently Asked Questions

"No Catches, Just Easy Home Ownership"

• How do I qualify? You must follow the 3 easy steps to qualify...they are
  

  1. Get your Credit Report, Call +61 2 9464 6000 or click here
     We need that NOW. Fax it to 02 9475 0322
     

  2. Drive past the home (click here for the addresses), want to own it? go to step 3
     

  3. Call us 24 hours on 02 9475 0322 and tell us:

     • how much deposit you have to work with,

     • what your (and your partners combined) weekly income is before tax and

     • when you want to move in.

• How much do we need to start? You invest a low amount towards application fee's with your bank lender if you are using our No Deposit system. You will also need a holding deposit of one quarter of one percent of your purchase price. With the Rent to Own system, you'll need a low deposit, normally between 1% to 3% of the amount of the home.

• Do we need money for the solicitor or mortgage insurance or stamp duty? With our No Deposit system there is usually NO MORTGAGE INSURANCE because we can lend a 20% deposit. On an average priced home we have saved you over $5,000 right there! You do need some money for a solicitor, about $1000 should do. First Home Buyers won't pay stamp duty.

• Can we take our time or do we need to be quick? Take as long as you like, after all it's only more dead rent going down the drain so who cares. When you're ready to buy, all documents must be filled in and signed as soon as possible, because we will sell the home to whoever signs up first!!! So it really depends if you want to miss out or not.

• Do we have to use a solicitor/conveyancer? Yes. We won't help you unless you have sought independent legal advice. It really is a must do and it's smart.

• Can we buy at Auction? At this stage Rent Stoppers will not purchase properties at Auction because it waives our cooling off period. We may purchase after the property has passed in.

• What is Rent Stoppers loan like? Rent Stoppers recommends that you choose fixed interest for an initial period to help act as insurance. If you use our No Deposit System you will invest interest only payments on our mortgage, paid monthly. These are direct debited to make it nice and simple. We suggest you request the same from the other lender. There are no loans with our Rent to Own System. Just easy payments and a credit at the end in some cases.

• How does Rent Stoppers make money? We are selling you the home for the price of everything included, the home, with the No Deposit system a 20% deposit, sometimes the legals and the stamp duty too. This means that a home from us will cost more than if you were to buy with your own saved deposit. You understand that you are getting the home today and not having to come up with the usual amount for deposit and costs. You could move in for less than a rental bond!! Rent to Own works the same. You put down a much smaller deposit today, fix the price and because you have the luxury of buying today, we'll make a little profit from some of your capital gains.

• How is Rent Stoppers protected? Rent Stoppers gets the solicitors to make sure all the paperwork is ok. Sometimes we will have a 2nd mortgage and or a caveat. In the unlikely event that you default on our 2nd mortgage and we can't work out a solution to have you keep owning, we may take over the 1st mortgage payments and sell the home to recover our debt. If you are Rent to Owning, we will ask you leave the home in a  neat and tidy state, giving us back the keys as you move on to your next opportunity.

• Can we use our First Home Grant? With the No Deposit system your First Home Owners Grant will be paid into an account nominated by Rent Stoppers. Rent to Own, rent assistance may apply, you'll get your First Home Owners grant when and if you choose to buy the home at the end of the rental period.

• Will you help everyone? Rent Stoppers would love to help everyone but unfortunately we can't. Apply TODAY to find out if we can help YOU.

• What if we have a deposit saved already? If you already have a deposit saved our No Deposit service is still great because we offer you the ability to buy with no money down. You can use your deposit elsewhere for some other needs. Maybe some debt reduction on high interest loans like credit cards. You will need a deposit for our Rent to Own system, so don't spend it yet if you are going to go that way!

See our homes for sale here...QUICKLY!