What is Rent to Buy?
Rent to Buy is a way to help you move from renting to owning your own home. You rent a newly built home at a lower cost while you save for a deposit. The rent is usually around 20% less than the market rate. This means you can live in a home you plan to stay in long term, while putting money aside to buy it later. You usually rent the home for between 2 and 5 years. At the end of this time, you may be able to buy the home outright or buy a share through Shared Ownership.
Who can apply for Rent to Buy?
Rent to Buy could be right for you if all of these apply:
You are in full time or part time work.
You can afford to pay your rent and save for a deposit at the same time.
You are a first time buyer, or you owned a home before and want to buy again, for example after a relationship breakdown.
Help And Contact
Rent to Buy can be a good option if you want time to save while living in your future home. If you’re not sure, having a chat can help you understand what might work best for you.