If you plan to buy a home in the future but don't know which is the best option? Take a look at Rent to Buy as it may be the answer you are looking for
The Rent to Buy scheme is a government-backed scheme designed to ease the transition from renting to buying. A potential route to homeownership for people who need a helping hand to climb the property ladder.
Rent to Buy allows you to rent a new build home, at a lower than market rental value rate, and after you have rented it for five years, you then have an option to buy it. This will give you the perfect steppingstone to save for the deposit to buy the home at your own pace.
The joy for you is that you get to live in a new home but have the breathing space to pull together the deposit.
The scheme works by offering you the chance to rent a property at 80% of the market rental value for up to five years. The plan will be to save that extra money saved on rent and put towards your existing deposit savings or start to save for one.
Suppose you have saved up the deposit. And in a position to buy after the five years. A valuation of your home will be completed, which will allow you to buy your home with a mortgage or via Shared Ownership.
To be eligible for the Rent to Buy scheme, you must:
Deciding if our rent to buy scheme is suitable for you depends on several personal factors such as:
Yes. The scheme is designed to help you. If your circumstances change or you no longer want to live in the area for whatever reason, you can leave the property much like any other rental agreement.
Contact us below to chat about our existing homes or register your interest to be alerted when new homes are available.
Rent to buy homes available from THT in Cheshire and coming soon across the North West.
You can find more information about the homes available on our THT OpenRent.co.uk page.
Government Praise for Trafford Housing Trust’s Building Safety
The chair of a government industry safety group has praised Trafford Housing Trust (THT) for their response to building safety following the tragic events at Grenfell Tower in 2017.
Families to Get Holiday Food Boost From Trafford Housing Trust
Families throughout Trafford will have access to a wide range of holiday food projects and support this Easter thanks to a grant from Trafford Housing Trust.
New Homecare Contract for Trafford Housing Trust Sparks Recruitment Drive
Trustcare at Trafford Housing Trust has been awarded a new contract by Trafford Council to provide homecare support services and is looking to recruit 100 new carers to deliver it.
Strategic JV Announced by Trafford Housing Trust and Lovell Partnerships
LEADING national housebuilder Lovell Partnerships and North West housing association Trafford Housing Trust (THT) have joined forces to create a strategic joint venture.
Trafford Housing Trust and Council Unveil Plans for Old Trafford Redevelopment
Residents are being invited to give their views on plans for a new housing development on land off Bold Street in Old Trafford at a virtual public consultation.
Far East Consortium announces Red Bank affordable housing delivery panel
Far East Consortium (FEC) has today announced its partner panel for the delivery of affordable homes across the Red Bank neighbourhood of the Northern Gateway, with immediate effect.