Rent to Buy

Do you want to buy your own home, but are struggling to afford the deposit with high renting costs? A Rent to Buy property with us may be the answer.

What is Rent to Buy?

Rent to buy properties are fantastic for those wanting to get on the property ladder but haven’t quite got enough money together for a full deposit.

Rent to Buy properties mean you can rent and live in a home, whilst you save up to eventually buy it. Rather than paying full rent, our Rent to Buy properties are priced at 80% of their market value, meaning you can put the other 20% you’d normally pay into saving for a deposit.

Here's an example

If you choose a property that would usually cost £900 per month to rent, if it’s one of our Rent to Buy properties, it will be priced at £720 per month, which allows you to save an extra £2,160 per year towards your deposit.

Eligibility

To be eligible for Rent to Buy, You must either be a first-time buyer or returning to the housing market following the breakdown of a relationship. You must be a working household that would like to buy your own home in the future, but just starting to save for your deposit.

When can I buy the property?

If you choose to Rent to Buy with us, you’re expected to buy the property outright, or on Shared Ownership after five years of renting your home. You may also be able to purchase under Shared Ownership within the first five years, subject to various factors.

If you can’t afford to buy your home after five years, then we’ll talk to you about the options available. For example – we may agree for you to remain in the property and pay market value, or we may decide to remarket the property for sale or re-let to a new Rent to Buy applicant.

However, this will be discussed in detail when you sign up to a particular property, you’ll be given all the information and we’ll support you along the way. You will always be given the first option to purchase the property before any decisions are made.

Can I apply for Rent to Buy?

To apply for Rent to Buy, you need to be:

Employed
Want to buy your own home in the future and working towards saving a deposit
A first-time buyer, or returning to the housing market after a relationship breakdown

However, if you have owned a property before, or are struggling to move up the property ladder, please get in touch with us directly*, as we may be able to help.

Interested?

Great, let's take steps towards helping you buy your first home!

Take a look at our available Rent to Buy homes below and register your interest.

If you have any questions about our Rent to Buy scheme please contact us.

The best move you'll make

Purchasing your new home with us through our Rent to Buy scheme will mean you get a dedicated, caring landlord. You’ll be kept informed right through the process, have access to a range of services beyond housing and get personalised advice and care.

Plenty of options for your next move

There's plenty to consider when moving into a new home, be it the location, the style of house or apartment and even the tenure type. At One Manchester we offer a range of tenure types to suit your needs - find out which is the best for you!