Rent to Own – Wales
Rent to Own – Wales allows you to build up a lump sum towards a deposit while you rent your home. The deposit can then be used against the purchase of the home.
How it works:
- you will have the opportunity to purchase the home you are renting and can build up a lump sum towards a mortgage deposit whilst renting the home
- you will initially rent the home and can receive 25% of the rent paid over the duration of the tenancy and 50% of the increase in the property value (if any) during the period of time you have rented the property to use as a deposit towards purchasing the property.
- your Rent to Own – Wales agreement lasts up to five years, you can apply to buy your home at anytime between the end of the 2nd year and the end of the agreement.
Last modified on August 28th, 2020 at 2:51 pm