Overview

In Rent to HomeBuy you pay reduced rent on a new-build home, enabling you to save for a deposit and then purchase the property.
If you are having trouble obtaining an affordable mortgage without a deposit, you may be eligible to take part in Rent to HomeBuy. In the scheme, you pay ‘intermediate rent’ – which is 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.
 

How the scheme works

At the end of the intermediate rent period, or earlier if you prefer, you are able to buy your home through the New Build HomeBuy shared ownership scheme. Your HomeBuy agent helps you to determine the proportion of the property that you can afford to purchase, which has to be between 25 and 75 percent of the property’s value. You continue to pay rent on the share that you don’t own and as you become able to afford it, you can buy further shares until you own 100 percent of the property.

If you are not able to buy the property at the end of the intermediate rent period, your landlord will review your position. Landlords consider each case on its individual merits but there is no guarantee that your tenancy will be renewed.

Eligibility criteria

You may be eligible for Rent to HomeBuy if you are a first-time buyer with a yearly household income of up to £60,000.  A £50.00 non-refundable application fee is required to apply.  Acceptance is subject to credit score check, income verification and landlord reference.  This scheme is not suitable for those claiming benefits unless you are able to qualify for a mortgage.

Whats in the Area

Development Opening Day Friday 3rd Sept At 1pm

 All Rental applications have now been recieved, only waiting list available.

You'll see by the boundary signs when you visit Nuneaton and Bedworth that your entering George Elliot country.

Set in the floral heart of England and with easy access byroad, rail and the waterways, Nuneaton and Bedworth is ideally situated as an excellent place to stay and explore the surrounding area of Warwickshire and the city of Coventry where you'll see there really is more to Warwickshire than Shakespeare!

The Borough has won many awards in the Britain in bloom competitions and has reached the national finals three times in recent years.

Nuneaton and Bedworth has three twin towns in Europe with the social, cultural, educational, sporting and economic activities take place to encourage and support twinning links and activities between Borough and Roanne (France), Guadalajara (Spain) and Cottbus (Germany).

The town is near the M6, the M42 and the M69 motorways and the main A5 trunk road (Watling Street), which also acts as a border with Leicestershire and the neighbouring town of Hinckley. The A444 provides a high speed dual carriageway route into the town from the south and also acts as the often busy town centre ring road. The A47 links the town with the neighbouring Hinckley and onwards to Leicester and the A425 - Eastern Relief Road - provides direct access from the east of Nuneaton to the south, avoiding the town centre.

Nuneaton Railway station near the town centre is an important railway junction served by the west coast main line, the Birmingham to Leicester railway line and by a line to Coventry via Bedworth; it offers direct rail services to those destinations.

Viewing Arrangements

Coming soon expected completion Aug/Sep

Call Newlife Living to register your interest

0116 257 6709