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What are the scheme’s details?

The Rent to Homebuy scheme is a pilot so is only available in certain areas with properties becoming available in autumn 2008. It’s administered by ‘HomeBuy Agents’ who will be able to tell if you can apply – see below for how to contact them. You may be eligible if you are a first time buyer with a yearly income of £60,000 or less. The scheme lets you: 

• rent a new build property in certain areas at 80 per cent (or less) of the market rent for a fixed length of time  
• rent on the basis of an Assured Shorthold Tenancy for up to 2 to 3 years

If you want to know more about Assured Shorthold Tenancies follow the link below.

• Private rent and tenancies

What happens when your tenancy ends?
After finishing your rental period:

• you can make the first offer to buy the property under the conditions of the ‘New Build HomeBuy’ scheme 
• a HomeBuy agent will then make an assessment of what share of the property you can afford to buy and maintain payments on under the New Build HomeBuy scheme 
• if the assessment shows that you cannot afford to buy any share because of changes in your circumstances, your landlord will review your tenancy but there is no prior guarantee that it will be renewed

For more information about the New Build Home Buy scheme, follow the link below.

• New Build HomeBuy scheme

How to apply for Rent to HomeBuy

If you think you are eligible for Rent to HomeBuy and want to know more, please contact your local HomeBuy Agent to find out what options are available in your area. If you are a Key Worker, you should contact a HomeBuy Agent for the area where you work. HomeBuy Agents will be able to advise you on your eligibility and take you through the application process. To get in touch with your local HomeBuy Agent, follow the link below.

• Find a HomeBuy Agent in your area

More useful links

• Buying your home
• Planning for buying a home (money, tax and benefits section)
• Contact the Citizens Advice Bureau Opens new window