Rent to Buy is usually best suited to first-time buyers who can comfortably afford monthly rent but are struggling to save a deposit while renting privately. It can also work well for people rebuilding after a relationship breakdown or returning to home ownership. The best candidates are those with stable employment and a realistic ability to buy within the next few years. It is less suitable where income is uncertain or there are recent credit issues that may still affect future mortgage eligibility. The real benefit comes when the reduced rent is actively used to build savings rather than absorbed into everyday spending.
Your home/property may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Still weighing it up?
Every situation is different. Have a free, no-obligation chat and we will give you a straight answer for your circumstances.
