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Rent to Buy

McCarthy Properties Centre Park House, Centre Park Road, Cork, Ireland. Tel: +353-21-4915854 Fax: +353-21-4915210 Email:firstname@mcdev.ie Web: www.mcdev.ie. Rent to Buy. McCarthy Developments would like to introduce you to the Rent to Buy option available at Jacobs Island.

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Rent to Buy

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  1. McCarthy Properties Centre Park House, Centre Park Road, Cork, Ireland. Tel: +353-21-4915854 Fax: +353-21-4915210 Email:firstname@mcdev.ie Web: www.mcdev.ie Rent to Buy McCarthy Developments would like to introduce you to the Rent to Buy option available at Jacobs Island. Ask Yourself the following Questions • Are you tired of renting? • Would you like to own your home? • How much have you spent on rent over the last number of years? • Can’t save a deposit while renting? • Is your Credit history bad? • Can you improve any poor credit history during the rental period? • How long will it take to save up the deposit? • Would you like to move into your home at JACOB’S ISLAND now without paying any deposit? • No mortgage for one – three years? The Answer is Rent to Buy What is this rent to buy scheme? This scheme allows you to rent the apartment that you wish to buy where all money paid as rent is your deposit when you buy the unit. This is an efficient and quick way of getting on that property ladder and buying your dream home right now! Move into your own home now and buy later.

  2. How does it work? With the Rent to Buy scheme, you will rent your apartment for a term of 1 to 3 years and when you are in a position to get a mortgage you can buy it at a price which has already been agreed, and your rent is taken off the price. McCarthy Properties Centre Park House, Centre Park Road, Cork, Ireland. Tel: +353-21-4915854 Fax: +353-21-4915210 Email:firstname@mcdev.ie Web: www.mcdev.ie It is a straightforward arrangement, where you choose the apartment you wish to rent and eventually buy, sign a standard lease agreement, pay security deposit and first month’s rent and move in. You also sign a one page Legal Option letter that summarises the details of the apartment, the maximum purchase price and confirms that when you decide to buy, all rent paid to date will be used as your deposit. This letter is also signed by the developer. When you decide to buy we must sell at the pre agreed price, but of course you do not have to buy. The apartment comes with all soft furnishing, appliances, wardrobes, flooring and tiling. The rent is set to encourage you to save more and keep the rent close to the eventual mortgage repayment. No more wasted rental payments. With Rent to Buy all the rent you pay will be used as your deposit at the end of the term when you purchase. Of course there is no obligation upon you to make that purchase and you may continue the rental. Example 1: Couple both working Savings of €10,000 2 Bed Apartment price €300k Rent €1000 per month By end of year 1 will have “saved” €12,000 By end of year 2 will have “saved” €24,000 By end of year 3 will have “saved” €36,000 92% mortgage - €276,000 Could effectively buy in 14 months CONTACT: Tony Sisk w:021 491 5854 m:087 279 0826 e:tony@mcdev.ie

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