Rent to Buy
What is Rent to Buy?
Rent to buy scheme allows you to rent a new build property at a discounted rate, usually 20% below the open market value for up to 5 years. This is designed to enable you to save towards a deposit to buy the property or a share of the property on a shared ownership basis. The availability of rent to buy is limited and there is no current availability in the South Ribble area.
Who is eligible for Rent to Buy?
The criteria for Rent to Buy will differ between Registered Providers so it would be best to check directly with the provider if/when a scheme becomes available. The scheme is available to people who do not currently own a home.
How long would I need to rent for before I could buy?
Initially you would take on a shorthold tenancy for a period between 6 months and 5 years but could have the opportunity to buy the property or part of the property at any time during your tenancy.
Where to I find Rent to Buy properties available?
Buy to Rent properties will be marketed through local Help to Buy agents.