Medina House in Central Milton Keynes is an exciting development of 86 new contemporary flats for sale. It includes seven new Rentplus apartments offering the chance for people living or working in Milton Keynes to get on the housing ladder without the need for any initial deposit.
Rentplus is a national award winning rent-to-buy scheme with homes across southern England. It offers those who are working and who aspire to home ownership, the real prospect of achieving their goal of buying their own home, without the need for any initial deposit. Tenants pay a discounted rent for a minimum of 5 years (at 80% of the open market rent), giving them time to build a good credit rating, and save towards their house purchase.
By agreement, tenants may choose to extend tenancies to rent for up to 20 years but have the option to purchase 100% of their home after 5, 10, 15 or 20 years: this will be agreed at the start. When ready to purchase, tenants are given a 10% gifted deposit from Rentplus towards their deposit.
Rentplus tenants move into their home with NO deposit. Tenants pay a discounted rent for a minimum of 5 years (at 80% of the open market rent), giving them time to build a good credit rating, and save towards their house purchase.
Tenants may choose to extend tenancies to rent for up to 20 years but have the option to purchase 100% of their home after 5, 10, 15 or 20 years. When ready to purchase, tenants are given a 10% gifted deposit from Rentplus towards their deposit.
Applicants for the rent-to-buy homes must have a local connection to Milton Keynes, either by living or working in the Borough for the last 12 months or with family living in the borough for the last 2 years. They must be in employment and have aspirations to buy their own home within a 5, 10, 15 or 20- year period.
Register your interest for this Rentplus scheme with HCHA by emailing [email protected] or visit hcha.org.uk/rentplus/