Rent to Buy

Plot 31 - Harrop Mews

Rent to Buy - Four bedroom detached family home with detached garage

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Plot 32 - Harrop Mews

Rent to Buy - Four bedroom detached home with integral garage

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001 Sf Plot 79 2 Seacole Grove St Marys Field

Plot 79 - St Marys Field

Rent to Buy - Three bedroom semi-detached home

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001 Sf Plot 80 4 Seacole Grove St Marys Field

Plot 80 - St Marys Field

Rent to Buy - Three bedroom semi-detached home

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002 Sf Plot 103 62 Pankhurst Way St Marys Field

Plot 103 - St Marys Field

Rent to Buy - Three bedroom semi-detached home

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014 Sf Plot 118 6 Castle Court St Marys Field

Plot 118 - St Marys Field

Rent to Buy - Three bedroom semi-detached home

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001 Sf Plot 119 5 Castle Court St Marys Field

Plot 119 - St Marys Field

Rent to Buy - Three bedroom semi-detached home

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Rent to Buy

We know that saving for a home can be difficult and sometimes feels completely out of reach. Our Rent to Buy scheme gives you the opportunity to eventually buy a home in the place you want to live.

What is Rent to Buy?

Rent to Buy is a government backed scheme which has been designed to ease the transition between renting to buying a home.

You can rent your brand new home for up to five years with the option to buy it during that time.

During the five years you will pay subsidised rent which is 80% of local market rent levels. This gives working households an opportunity to save for a mortgage deposit with the money saved on lower rent payments.

Your rent will be 80% of the current market values for five years.

Homes available with the Rent to Buy scheme can either by bought outright or bought with the shared ownership scheme.

If you decide to buy your home through the shared ownership scheme, you must meet the eligibility, affordability and sustainability criteria.

Who can apply?

To be eligible for the scheme you must:

be 18 years or over;
be a working household in full or part-time employment;
have a good credit history and can afford the cost and regular payments involved in buying a home;
be a first-time buyer or buying again after a change in circumstances;
have a total household income of less that £80,000 and currently unable to secure a mortgage due to lack of deposit;
be able to show you can pay rent and save for a deposit at the same time, and;
not be claiming Housing Benefits.

This is a route to home ownership so it’s important to work toward this during your tenancy period

How do I apply?

If you're interested in buying a home through the Rent to Buy scheme, please email our Sales Team at [email protected]

How much would I need to save for a deposit?

This chart gives an idea of the monthly savings needed to meet a 5%, 10% and 15% deposits.

This is based on current house valuations, which may increase over the two-year period.

% Deposit	Market value (100%)	Equity share %	Share Amount £	Savings per-month
5%	£180,000	50%	£90,000	£75.00
10%	£180,000	50%	£90,000	£150.00
15%	£180,000	50%	£90,000	£225.00
5%	£250,000	50%	£125,000	£104.16
10%	£250,000	50%	£125,000	£208.33
15%	£250,000	50%	£125,000	£312.50

In addition to the deposit, potential buyers will need approximately £2,500 to cover the costs of buying a new home, including legal fees.

Which homes are available?

See our current Rent to Buy homes above.

Can I view the homes?

Once we've received and approved your application and you're deemed eligible for the Rent to Buy scheme, we'll then arrange an interview and a viewing.

How long can you rent a 'Rent to Buy' home before buying it?

If you've saved enough deposit, you can buy your home before the end of the five-year tenancy. Once the five-year rental is up, you should be able to buy outright or through shared ownership

Can I rent it to someone else?

If you're on the Rent to Buy scheme, you must live in the home. You can't let the home to anyone else.

If you have any queries, please email our Sales Team at [email protected] or phone us on 01977 788830.

Want to find out more?

Find answers to frequently asked questions in our Rent to Buy guide!

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Rent to Buy

Plot 31 - Harrop Mews

Plot 32 - Harrop Mews

Plot 79 - St Marys Field

Plot 80 - St Marys Field

Plot 103 - St Marys Field

Plot 118 - St Marys Field

Plot 119 - St Marys Field

Rent to Buy

What is Rent to Buy?

Who can apply?

How do I apply?

Want to find out more?

Did you find this page useful?