{"id":1875,"date":"2021-08-10T11:14:55","date_gmt":"2021-08-10T11:14:55","guid":{"rendered":"https:\/\/staging.themediapeople.co.uk\/sow2021\/?page_id=1875"},"modified":"2021-08-23T14:42:55","modified_gmt":"2021-08-23T14:42:55","slug":"rent-to-buy","status":"publish","type":"page","link":"https:\/\/staging.themediapeople.co.uk\/sow2021\/rent-to-buy\/","title":{"rendered":"Your other options"},"content":{"rendered":"
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Rent to Buy<\/span><\/h2><\/div><\/div>

What is Rent to Buy?<\/h3>

Like a perfume bought at a department store, Rent to Buy is a \u2018try before you buy\u2019 style of home buying. It is a government scheme that lets first-time buyers<\/span> rent <\/span>a property before they buy it outright. <\/span><\/span> <\/span><\/p><\/div><\/div><\/div><\/div><\/div>

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How does Rent to Buy work?<\/h3>

Through Rent to Buy, first-time buyers can pay subsidised rent on <\/span>the home they live in <\/span>for up to five years. After a set period (usually around two years), tenants can either buy the property or enter a Shared Ownership deal. <\/span>If you do <\/span>decide<\/span> that the house is worth buying, you will gain 25% of the rent you paid, and 50% of any increase in the property\u2019s value.<\/span> <\/span><\/span> <\/span><\/p><\/div><\/div><\/div><\/div><\/div>

Is it better to rent or buy?<\/h3>

The eternal question. The renting vs buying debate ultimately comes down to your circumstances. A first-time buyer will find it much easier to rent a house, which doesn\u2019t require a huge deposit. This makes Rent to Buy the perfect solution for someone<\/span> who wants a <\/span>home but<\/span> doesn\u2019t have the money to buy one straight away.<\/span><\/span> <\/span><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>

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Help to Buy<\/span><\/h2><\/div><\/div>

What is Help to Buy?<\/h3>

The government's Help to Buy scheme gives a financial springboard for first-time buyers and home movers in the market for a new build home. <\/span>If you need extra help getting on the housing ladder, this scheme is here to provide it. <\/span><\/span> <\/span><\/p><\/div><\/div><\/div><\/div><\/div>

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How does Help to Buy work?<\/h3>

The 'Help' in Help to Buy comes from a Shared Equity loan of up to 20%, while letting home buyers put a 5% deposit down for a brand-new home. The loan that you get is interest-free for five years.<\/span> <\/p><\/div><\/div><\/div><\/div><\/div>

What is a Help to Buy equity loan?<\/h3>

You\u2019ve heard of Help to Buy, but what<\/span><\/span> <\/span><\/span>of equity loans? <\/span>An equity loan is a government loan that can be used in combination with a deposit AND your mortgage. <\/span>In other words, it\u2019s a smorgasbord of different financial options aimed at getting you the home you want.<\/span><\/span><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>

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Help to Buy ISA<\/span><\/h2><\/div><\/div>

What is a Help to Buy ISA?<\/h3>\n

The Help to Buy ISA is a government scheme that is built to make saving for a mortgage easier than ever. If you were wondering, ISA stands for 'Individual Savings Account'.<\/p><\/div><\/div><\/div><\/div><\/div>

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How does a Help to Buy ISA work?<\/h3>\n

A Help to Buy ISA is a savings account for first-time buyers, with the added help of a government bonus when it comes to buying your home. If you feel like saving for a house is taking forever, this scheme might be for you.<\/p><\/div><\/div><\/div><\/div><\/div>

Can you use Help to Buy ISA for deposit?<\/h3>\n

Yes! You can use the savings from your Help to Buy ISA to bulk up your mortgage deposit. This won't impact the amount of your government bonus.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>

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