Rent to Buy homes must be let to working households at an intermediate rent to give them the opportunity to save for a deposit to buy their first home.
The homes will be offered at an intermediate rent for a minimum of 5 years.
Tenants must be working at the time of letting and have not previously owned their own home unless they have suffered a relationship breakdown.
After the initial 5 years of letting the tenant has the opportunity to buy their home at market value.
If the tenants do not exercise the choice to purchase, Hellens will retain the property as rented housing (market rate rent) or sell it on the open market.
Tenants are required to pay a month’s rent as a deposit. This will be returned in full should you wish to end your tenancy provided the property is not damaged and there are no rent arrears or if you purchase the property.