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Mortgage Advisor & Director
About the scheme
The Rent to Buy scheme allows prospective homeowners to pay subsidised rent on a newly built home for up to five years (depending upon the property).
During that time, you have to option of buying the property either outright or under a shared ownership scheme.
Rental payments are typically 20% less than the market value, with the expectation that this allows tenants to save towards a deposit.
The scheme is available in England, Scotland and Northern Ireland, although the Rent to Own scheme in Wales is comparable.
Eligibility and conditions
- You have an annual household income of less than £60,000.
- You must not own any other property.
- Your credit history is taken into consideration.
- Additional criteria will apply depending upon the housing association.
- Certain groups may be prioritised depending upon the location.
More information
Our team of experienced advisors have helped many people to secure the best deal possible on their Rent to Buy mortgage, complete our simple online form today to get started!
Find more information on the HomeOwners Alliance website.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
