A selection of Rent to Buy properties are available at Greatwell Homes. These homes will be available for rent at below-market rates for a minimum of 5 years. This fixed period will give the customer the opportunity to save up for a deposit and get ready to buy their own home.

At the end of the period, the customer will have first refusal to buy the property – alternatively they may choose to move out and buy a different property, or rent another property with Greatwell Homes.

If the home is sold, Greatwell Homes will then have the option to use any returns on their investment to build even more affordable homes in the area. Alternatively, they will still have a home, which they can look to rent at an affordable rate to another customer who needs help to buy.





QUICK, WE ARE NOW OPEN!

Rent to Buy applications will be closing on 24th December 2019

We are pleased to announce the launch of our Rent to Buy properties at our new development: Lakeland Meadow Penrith Drive Wellingborough, Greatwell Homes. A new development of affordable 1, 2 and 3 bed homes.
Please read application information guidance below.

Download Application Form Here









PLEASE READ APPLICATION INFORMATION GUIDANCE BELOW

Rent to Buy homes are new build properties which are let to working households who are looking to buy a home but have been unable to save for a deposit. These properties will be let at an intermediate rent (80% of market rent value) on a 6 month renewable Assured Shorthold Tenancy, for a minimum of 5 years, providing the opportunity for customers to save for a deposit to buy.
Please find house details at www.greatwellliving.org.uk by searching development name.
Applications received will be subject to an assessment to consider whether they have a realistic prospect of purchasing a property and their motivation for buying their own home and any other relevant factors.

This will initially involve verification checks as follows:
  • Family size
  • Current family income and future prospects
  • Household expenditure compared to income
  • References from previous landlords
  • Credit checks using professional companies such as Experian
  • Meet the Right to Rent criteria having entitlement and leave to remain in the UK
  • Meet the eligibility of Help to Buy and have a unique ref number

Applicants may be rejected where:
  • The applicant’s income is insufficient to be able to afford the rent.
  • The applicant has debts or other circumstances that indicate that they are not able to save for a deposit within a reasonable period.
  • The applicant would be unable to obtain a mortgage at the end of the Agreed Period.
  • The applicant has rent or mortgage arrears
  • Would normally be rejected due to Greatwell Homes polices

Priority
  • Those from members of the British Armed Forces which will be be prioritised for Rent to Buy schemes according to the current guidance.
  • Where conditions within the planning consent apply e.g. highest priority given to local people living within the community where the homes have been constructed.
Please go to www.helptobuymidlands.co.uk
When completing the form please ensure you select Greatwell Homes in the drop down box, this will then automatically send us a copy. You should hear within a couple of days whether you are eligible and will receive a unique reference number.
When you have received confirmation from help to buy then please complete our application. The application can be downloaded from our web site 'download form here' button

Download application form here



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