Rent Save Buy
Also known as Rent to HomeBuy,
Affinity Sutton currently offers this product on selected
properties in Portsmouth and Gravesend.
You rent the property at 80 per cent of
typical market rent levels for a predefined period with the
expectation that you will buy a share of the property at the end of
the period.
By paying rent at a discounted level we hope
that you will be able to save every month towards a deposit so you
can then buy the property.
You have an option to buy the property and you
can buy the share that you can afford, between 25 per cent and
75 per cent of the property’s market value and you’ll pay us a
subsidised rent on the remaining share.
You will generally purchase your share by
having a small deposit (5% of the share you buy or more) and
raising a mortgage on the rest.
Over time, you can usually buy more shares
until you own 100 per cent of the property.