First Rent to Buy units to be handed over at The Paddocks in Littleport
Longhurst Group is set to take handover of the first Rent to Buy properties on a development in a Cambridgeshire village.
We are excited to be taking handover of five three-bedroom properties at The Paddocks in Littleport, on 31 October.
They will be available on a Rent to Buy basis which is designed to help people find it easier to buy the property at a later date.
In total, 21 properties will be available on this basis at The Paddocks by March 2020 – 12 three-bedroom homes and nine two-bedroom properties.
Sharon Stevenson, Asset Sales Manager, said: “‘We are excited to be taking handover of our first Rent to Buy units at our The Paddocks development in Littleport next week.
“Rent to Buy is a new sales scheme designed to help customers on their home ownership journey.
“It allows them to move into their new home immediately while paying 80 percent of the full market rent for up to five years.
We believe Rent to Buy will be very popular and we are delighted to be able to offer this scheme to our customers,
“This gives them extra time and financial help to save towards their mortgage deposit.
“Customers can then progress to either buy the homes on a shared ownership or an outright basis.
“We believe Rent to Buy will be very popular and we are delighted to be able to offer this scheme to our customers.”
To be eligible for Rent to Buy, you’ll need to be in a working household. This means at least one person who’ll be moving into the property must be in fulltime employment.
It is designed for first-time buyers or for those applicants who have exceptional circumstances, such as the break-up of a relationship, which means they can’t currently afford to buy a property outright on the open market.