Rent to home buy
Shepherds Bush Housing Group offers customers the option of rent to homebuy on selected developments. This helps those who cannot afford to purchase homes right now but have the intention of purchasing in the future.
What is rent to homebuy?
This option offers new build homes to rent for a set period of time with the expectation that you will buy a share of the property at the end of that rental period. The rental period can vary between six months and three years. It’s a way of helping you into your own home with the intention of you owning the property after a set period of time.
How does it work?
Homes are available on assured shorthold tenancies with an affordable rent of 80% of market rents. The rent is payable for a set and limited period, after which time there is an expectation that you will purchase a share of the property.
The rental period provides you with the opportunity to save for a deposit towards buying a share in the home.
What are my options after renting through rent to homebuy?
You will have the opportunity to purchase a share in the property throughout your tenancy. At the end of the rental period, you will be assessed to determine your affordability and eligibility to purchase a share in the property. If your circumstances have changed and you are no longer able to afford to buy, we may review your tenancy. Please note that there is no guarantee that your tenancy will be renewed after each of the agreed periods. |