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Try Before You Buy
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 Rent to HomeBuy
Rent to HomeBuy is a government initiative. It helps you into home ownership by allowing you to purchase an affordable share in your own home with the option to buy additional shares in the future taking you into outright ownership. Or you can rent at 80% market rent with a view to purchasing at any point within the next five years.
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 Other Buying Options
 What is HomeBuy Direct?
HomeBuy Direct is a government backed shared equity scheme designed to help up to 10,000 first time buyers into affordable home ownership. The scheme also helps participating housebuilders by enabling more First Time Buyers to purchase their newly built properties.
 What is New Build HomeBuy?
The most widespread affordable housing scheme is New Build HomeBuy (also known as shared ownership). The ‘New Build HomeBuy’ scheme could help you to buy a newly built property. You pay for a share of the cost of the property and pay rent on the remaining amount.
 Eligibility
Tens of thousands of first-time buyers from all sorts of backgrounds are taking advantage of affordable housing schemes. Different schemes use different criteria to decide who gets a place first. Some may give priority to families with children, and some schemes are only available to specific types of workers, such as nurses, teachers or police officers.
 Affordable Homes
From shared ownership to rent-to-buy, first homes are within reach.
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Move into your new home straightaway and rent it, giving you time to decide to buy.

Would you like a new home, but you’re not sure it’s the right time? Or maybe saving for a deposit whilst renting is proving too difficult. Getting a mortgage is not always easy, even at the best of times.

Well, here’s a great idea that may be just up your street called 'Try before you buy'. If you choose to buy, you get up to your first 12 months’ rent towards your deposit.

Win, win, win

You get the home you want – no waiting, no messing around, no fuss. Plus you get time to find the mortgage that’s right for you while saving for your deposit. You get the opportunity to live in your new home, to see if it really does live up to your expectations. Not just the house itself, but the location, everything.

'Try before you buy' is such a good opportunity for lots of people who are unsure whether to buy right now. And for those of you whose temporary and financial circumstances are making it extra difficult, we’re sure this innovative scheme will be a real help. In the meantime, you can sit back and enjoy your new home safe in the knowledge that your rent isn’t being wasted as it can go towards your deposit.

How it works

You sign up to a rental agreement (it’s called an assured shorthold tenancy) which is simply the legal contract between you and us. The level of rent will be set at the current market value, so it’s a completely reasonable rent – what you would pay anyway.

When you move in, all you’ll need is the first month’s rent plus another month’s rent as a deposit. When you sign up to your rental agreement you also secure the option to purchase at an agreed price. Your rent can only be used towards a deposit and is non refundable. And that’s it.

Move now

Forget trying to find a big deposit up front for your mortgage – try before you buy and move in straightaway. And while you think it over, you can be saving towards your deposit for your new home. 

Click here to see where you can buy with this scheme.

See Also:   (7), (5), (10), (7), (7)
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