Rent to Buy – Try Before You Buy
The Rent to Buy scheme is an exciting new way to "try before you buy." This superb scheme allows you to sample life in your new home while you save up for a deposit.
Rent a fabulous property at an affordable discounted rate (usually up to 20% lower than average local market rents) for between three and five years.
In the future as your circumstances change you can purchase shares of your home or even buy it outright.
Rent to Buy is part of the Shared Ownership scheme. When applying online, please select this option from the drop-down menu.
Am I eligible?
There are a number of key criteria you need to meet for Rent to Buy but the main ones include:
- You would normally be eligible for Shared Ownership
- You must be over the age of 18 years old
- You must be in full time permanent employment
- You must have a household income of under £60,000 per annum
How do I find a property?
Below are some of the schemes where Rent to Buy may be available
- Broad Road, Sale
- Chips, New Islington, Manchester
- Talbot Road, Blackpool
- Petre Wood, Langho
- The Bridge, Timperley
- The Ridge, Knutsford
- The Way, Beswick
How do I apply?
Fill in our online application form to apply for Rent To Buy and select a development. We may then require photocopies of three months wage slips. Please note that we do not accept originals as we cannot guarantee their return.
How do I reserve a Rent to Buy property?
We require a non-refundable application fee of just £50 for an individual application and £75 for a joint application. This fee will cover your credit check and referencing.
How much is the rental deposit?
A deposit of six weeks rent will be required to secure a property.
Do I pay maintenance/service charge on top of my rent?
No, these are included in the rent
What price will I pay if I want to buy under the shared ownership scheme?
Either the selling price that was set on first release of the property for sale, or the open market valuation at the time you apply to purchase – whichever is higher.
Re-lets - fill out an application form to register an interest in properties to be at the top of the list should someone end their tenancy.
