help with buying / renting please

Mason64 · 25 Aug 2008 at 22:52

am looking to rent a shop and it says the following

PREMIUM: £15,000
(OFFERS WILL BE CONSIDERED)
NEW 9 YEAR LEASE AVAILABLE
(RENTS TO BE AGREED)

what does permium mean?

Thanks

James07 · 25 Aug 2008 at 22:54

Yearly payments?

Like an insurance premium.

Mason64 · 25 Aug 2008 at 22:55

so its £15.000 will have to be paid unfront?

Rotty · 25 Aug 2008 at 22:57

Where a borrower is in a property on a lease to buy option they will be paying a monthly rental for the lease and a rent premium above the monthly rent which will be used to offset against the purchase price if the purchase option is taken.

Mason64 · 25 Aug 2008 at 23:04

sorry i dont totally get that

James07 · 25 Aug 2008 at 23:06

Lol it really isnt a clear comment Rotty.

Rotty · 25 Aug 2008 at 23:18

it is a rental deal with an option to buy, the premium is payable in addition to the rent and deducted from any sale price

Morba · 26 Aug 2008 at 01:02

Rotty said:
it is a rental deal with an option to buy, the premium is payable in addition to the rent and deducted from any sale price

as a one of or yearly?

Rotty · 26 Aug 2008 at 01:16

no idea, sorry