About

When you Rent to Own, you have all the benefits and rights of a legal tenancy agreement.

What we will do:

• We will ensure that your home is kept in good repair and proper working order
• We will give you a copy of the Energy Performance Certificate for your home
• We will ensure all gas appliances are kept in good working order
• We will repair or replace fixtures & fittings that we have supplied that are no longer in working order.

What we expect of you:

• It’s your home, we expect you to look after it and keep it in a good state of repair and reasonably clean
• Let us know of any damage as soon as possible, including emergencies
• Look after all the appliances we provided for you, and replace any damages or breakages
• Keep the garden neat and tidy
• As you are our tenant, you cannot make any alterations to the house without asking us first
• Make sure you have adequate insurance for your personal possessions, we will insure the building, fixtures and fittings.  You should not do anything that would invalidate the insurance that we have paid for.

Full details can be found in your Tenancy agreement. Please read this carefully and contact us if you have any queries.

Throughout your tenancy a member of the team will visit you for a 6 week review, a 6 month review, a Year 1 review and a Year 2 review.

6 weeks in

Our team will give you a call to check how you are settling into your new home, managing your rental payments and to confirm details of any snagging issues that there may be with the property.

6/12/18/24 month visits

There will then be a series of planned visits every six months throughout the tenancy.  The first visit, when you have been in your home for six months, is an opportunity to discuss what obstacles are stopping you from getting a mortgage, and to put together a plan to move towards qualifying for a mortgage within the coming 3 years. A series of action points will be agreed between us and the following visits every six months will be used to track your progress and guide you towards being able to buy your home as soon as possible.

30 month visit

The 30 month visit is the last planned visit during your tenancy and all going well, you will be in a position to have your finance in place and will be ready to buy your home either with a full mortgage or with Co-Own.

If however you have decided not to purchase at this point, unfortunately we will have to remind you that the tenancy will end at 36 months.

If you have any questions or require help please contact us on 028 9032 7276 or email [email protected]

After renting your home for up to 3 years, we want you to be able to buy it. We hope that by working with you over the 3 years that you will be able to buy your home either with a mortgage or with Co-Own.

Here’s how it works:

1. You can buy your home any time after the first year of your tenancy, up to the end of the third year.
2. When you are ready to buy your home, let us know and we will arrange for your home to be valued.
3. The purchase price will be the price we paid for the house, or the market value, whichever is higher.
4. We’ll send you details of the purchase price, and you have 4 weeks to agree to buy the house. If we don’t hear from you by the end of the 4 weeks, we’ll assume you don’t want to buy it at that price.
5. You have 12 weeks from when we tell you the purchase price to complete the sale. At this stage you should appoint a solicitor to work on your behalf, which you will need to pay for.
6. If the sale is completed within the 12 weeks, your down payment of £2,500 will be put towards the purchase price.
7. In addition, assuming you have kept to the terms of the Tenancy agreement and your rent is up to date, we will pay 20% of all rent you have paid towards the purchase price.
8. Together these will form part of a deposit towards the purchase of your home, and will be paid through our solicitor to your solicitor.
9. Your Tenancy deposit will be returned to you at the end of the tenancy assuming you have kept to the terms of your Tenancy agreement.

Full details can be found in your Option to Purchase agreement. Please read this carefully and contact us if you have any queries.

If you are concerned that you will be unable to purchase your home, either with a mortgage or through Co-Own please speak to us as soon as possible so we can talk through your options with you.