Understanding Rent to Buy
Rent to Buy is a new Government backed housing scheme that enables you to live in a new home at a reduced rent whilst you save up for a deposit.
During the first five years, you may be able to buy your home using our affordable Shared Ownership (part buy/part rent) product and after five years, buy it outright.
Our Rent to Buy homes are available to working households who are intending to buy a home in the future but can’t afford to at the moment.
- Move in to a brand new home
- Pay a reduced rent (set at 80% of the market rent for the equivalent property)
- Get up to five years to save your deposit
- Buy your home when you can afford to
- Current homeowners are not eligible for Rent to Buy
- We can’t accept applications from people with adverse credit that has been registered within the last 12 months, including; County Court Judgements; Individual Voluntary Agreements and Debt Relief Orders
- We do not accept applications with guarantors
- Applicants subject to bankruptcy will be declined
- We will consider applications from people with satisfied County Court Judgements that are more than 12 months old
- If we are considering you for a home, we will request a credit reference for all applicants for which there is a non-refundable fee of £30 per applicant
- Minimum income threshold applies