Home ownership options
Everyone’s situation is different. If you are not sure which option is right for you, we are here to help explain what is available and what the next steps look like.
Shared ownership
Shared ownership lets you buy a share of your home and pay rent on the rest.
You usually buy between 10% and 75% of the property, depending on what you can afford. Over time, you may be able to buy more shares if you choose.
Shared ownership can be a good option if you want to own a home but cannot afford to buy one outright.
Rent to Buy
Rent to Buy helps you prepare for home ownership.
You rent a home at a reduced rent for a set period, usually up to five years. This is designed to help you save towards a deposit so you can buy a home in the future.
Rent to Buy can be a good option if you are not ready to buy yet but want time to plan and save.
Right to Acquire
Some Magenta Living customers may have the Right to Buy or Right to Acquire their home.
This means you could be able to buy the home you live in, at a discount, if you meet the eligibility criteria. This usually depends on your tenancy type, how long you have been a tenant, and the type of home you live in.
Buying your home is a big decision and comes with ongoing costs and responsibilities. Only you can decide if it is the right option for you.
To find out more about eligibility, discounts and what to consider before applying, get in touch.
