Rent to Buy: pay lower rent to save for a deposit
Buying a home
You can use the deposit you’ve saved to buy any home, including those available using an affordable home ownership scheme.
If you want to buy the home you’re renting
You may be able to buy the home you’re renting if your landlord agrees.
If your landlord decides to sell while you’re a tenant they must give you the option of buying your home first.
The price you pay will be the property’s market value. This may be more or less than when you first rented your home.
Check with your landlord whether buying the home you’re renting is an option.
Buying the home you are renting through shared ownership
You may be able to buy the home you’re renting through the shared ownership scheme if:
- your landlord agrees
- you’ve saved enough deposit to buy a share
- you can get a mortgage
- you meet the shared ownership eligibility requirements
Check with your landlord whether buying the home you’re renting through shared ownership is an option.