For many of us, the first step towards owning our own home is saving up for a deposit. But if most of your money goes on rent and other living expenses each month, it can be a real struggle to build up enough savings for a place of your own.
That’s where Rent to Buy comes in. The government scheme was set up to help renters make that transition into home ownership.
With Rent to Buy, you can rent a newly-built home from Onward at approximately 20% below the market rate for up to five years, giving you the opportunity to free up some spare cash to save for a deposit towards the purchase of your first home.
At the end of the five years you can either buy the property you’ve been renting, leave the property, or continue renting but at full market rent value. Find out more about Rent to Buy and whether it could be an option for you.