Rentplus properties offer aspirational home owners an affordable opportunity to purchase their own home through a combination of affordable rents and a 10% gifted deposit. Rent. Save, Own.
This can include households on council housing lists who wish to become home owners, those registered with choice based lettings and Help to Buy agents, or persons in private rented accommodation with limited or no ability to save for a deposit.
Rentplus homes will all comprise new build properties with strong energy efficiency performance, meaning occupiers can achieve savings on household bills.
Tenants have five-year renewable tenancy agreements, at an affordable rent set at 80 per cent of market rent, including any service charge, with no maintenance responsibilities, giving them time to save for a deposit and build credit worthiness records that will support mortgage applications.
After a tenancy period of 19 years, the occupier will be invited to purchase their property. While there is no obligation to purchase, those who do choose to buy receive a gifted deposit of 10% of the property`s market value. As there is no chain and they are already in situ, there are none of the delays, uncertainties or moving expenses of most house purchases.*Subject to terms and conditions.
To qualify you will need to meet the following criteria, this list is not exhaustive:
You must be working
You must have enough income to pay for your rent and bills whilst saving for a deposit.
You will need to be able to get a mortgage at the end of the term.
You must have a local connection to Earls Barton (see application form)
To apply please fill in and send the homeownership application form to email@example.com along with a full Experian credit report, 3 consecutive months bank statements for all bank accounts, 3 consecutive months wage slips, identification (please do not send in originals of any documentation) . Applications close on the 11th November 2019.
All photographs are provided for guidance only.
The Energy-Efficiency Rating is a measure of a home's overall efficiency. The higher the rating, the more energy-efficient the home is, and the lower the fuel bills are likely to be.
The Environmental Impact Rating is a measure of a home's impact on the environment in terms of carbon dioxide (C02) emissions - the higher the rating, the less impact it has on the environment.
The following are permitted payments which we may request from you:
a) The rent
b) A refundable tenancy deposit (reserved for any damages or defaults on the part of the tenant) capped at no more than five weeks` rent where the annual rent is less than £50,000, or six weeks` rent where the total annual rent is £50,000 or above
c) A refundable holding deposit (to reserve a property) capped at no more than one week`s rent
d) Payments to change the tenancy when requested by the tenant, capped at £50, or reasonable costs incurred if higher
e) Payments associated with early termination of the tenancy, when requested by the tenant
f) Payments in respect of utilities, communication services, TV licence and council tax; and
g) A default fee for late payment of rent and replacement of a lost key/security device, where required under a tenancy agreement
Please call us if you wish to discuss this further.
Click here for Tenancy Information