What is 'Rent Now Buy Later'?

'Rent Now Buy Later' is very similar to Intermediate Rent, the key difference is the scheme has been built with the intention of you buying the property following an initial period of renting whilst you save for your deposit.

If you are currently having difficulty obtaining a mortgage but do want to become a homeowner, you may be eligible to take part in the 'Rent Now Buy Later' scheme.

Under this scheme you’ll pay what’s called ‘Intermediate Rent’, which is usually no more than 80 percent of the current market rent, on a new-build home for up to five years. You use the time that you’re paying reduced rent to save up for a deposit so you can obtain a mortgage and purchase your home. It’s an opportunity to ‘try before you buy’.

Who is eligible?

You may be eligible for 'Rent Now Buy Later' if you are a unable to buy a home which meets your needs, usually because you don’t have sufficient deposit. You’ll also usually have to live or work in the district in which you want to live.

How do I apply for 'Rent Now Buy Later'?

Use the advance search facility on this site to look for homes we have available under the scheme, you can then check for more details by clicking into each development listed in your search results.

For more information please contact a member of our HomeBuy Sales Team.