Rent to Buy


Rent to Buy properties are new build homes for rent. The rents are approximately 20% cheaper than similar properties on the open market and it is expected that you will use the discount to help you save for a deposit to purchase a home in the future.


How do I qualify for Rent to Buy?

To qualify for Rent to Buy you must not:  

  • Have a household income of more than £80,000 

  • You must not own a property 

  • Have a large amount of savings available

  • Applicants must be working households and intending to buy their own home in the future

  • Applicants must be first time buyers or those returning to the market following a relationship breakdown

Will I have to purchase the property that I am renting?
Not necessarily- the discounted rent will give you the chance to save for a deposit to buy any house in the future.
Can I buy that house using schemes like Shared Ownership?
You may be able to buy it through Shared Ownership if the Registered Provider agrees to this and if you still fit the criteria at that point. 
What will happen after my initial tenancy agreement ends?
If you are in a position to buy, the Registered Provider may discuss selling this to you. They may continue rolling your tenancy agreement or convert to this to a market rent property after this time.

 


Rent to Buy Process

1. Find a property using our property search 

2. Complete our Help to Buy Low Cost Home Ownership application form 

3. Application will be approved, pending (needs further information) or rejected (case by case)  

4. Receive approval email, which will contain next steps and will be sent to your Registered Provider (RP) 

5. Applicant contacts RP to confirm approval and discuss the next steps. RP then takes over from Help to Buy NEYH and conducts in-depth assessment on your finances 

Apply now