Wednesday, May 25, 2022
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Rentplus gives a Helping Hand

Find your place to call home with Rentplus, which lets you pay reduced rent on a new build property so you can save for a deposit to buy it

Living in a rented property while trying to save for a deposit has become almost impossible for so many people on middle-to-lower incomes. As rents have risen exponentially, an entire generation of renters has felt excluded from buying their own properties. For most, monthly mortgage repayments are cheaper than their rent – but being able to raise a deposit to get a mortgage in the first place is the biggest barrier of all.

Rentplus
Rentplus was introduced to solve this problem for renters – to remove the deposit barrier and make homeownership achievable for working professionals and families alike.

Rentplus is a private provider of the long-running rent-to-buy scheme. It allows those on low to middle incomes to move into a beautiful, brand new home with no deposit, and pay a reduced affordable rent for 5-20 years, giving them time to save for a deposit. 

Doing so has helped many renters restore their credit scores in preparation for homebuying.

Forever homes
Homes are rented for lease periods of five to 20 years. After a set time, with savings built, renters are able to get a mortgage to buy their properties. Rentplus also gifts 10% of the purchase price to boost savings. 

In 2021, the first of Rentplus’ renters bought their homes after five years in their properties. They had paid five years of affordable rent (20% less than private rent), cleared debt, restored credit ratings, saved money and then become homeowners with high street mortgages. All these things had seemed so far out of reach before moving into a Rentplus home. 

Here we meet some of Rentplus’ happy renters and learn about their journey towards homeownership.

Rentplus works in partnership with housing associations and offers homes in new build developments all over the country. For more information, visit rentplus-uk.com

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