Rent to Buy

Rent to Buy is a scheme that makes it easier to save a deposit towards buying a home of your own.

It gives you the opportunity to rent a stylish new home at 80% of the market rent and build up a deposit with the money you’re saving on rent each month. Then, after five years, you’ll be able to buy your home outright.

How does it work?

If you’re in employment, and either a first time buyer, or a former home owner trying to get back onto the property ladder (for example after a relationship breakdown) you can apply.

We’ll carry out a financial assessment, just to check that your household earns less than £60,000 per year and that you’ll be able to afford the combined rental payments and savings plan. The Rent to Buy scheme is for renters who hope to purchase their home in the future, we’ll also ask about your deposit savings plan for the five year term.

Once your application and reference checks are approved, we’ll be able to offer you a tenancy and agree your move-in date.

After you’ve moved in, we’ll be on hand to deal with any repairs or other tenancy queries. During the five year Rent to Buy period we’ll hold annual review meetings with you to check you’re on track with saving your deposit.

For more information and to download an application form please click here.

Buying your home after five years

Towards the end of the Rent to Buy period we’ll get in touch to discuss your options for buying your home. These might include buying through the Shared Ownership scheme (a much more affordable way to buy) as well as purchasing outright. For more information on Shared Ownership see here.