The first sales of Rentplus homes to its tenants, turning renters into homeowners, was the focus of a case study in an article originally published in the Local Government Association’s first magazine and appears courtesy of the LGA.
The Plymouth homes were some of the first schemes to see tenants move in with no deposit and then start to buy 100% of their home.
With the funds they had saved since 2016, together with the 10% deposit that Rentplus gifted them, some tenants had as much as 25% equity in their home from day one, needing just a 75% mortgage on the property.
Thank you to Cllr Smith for the case study and to all the officers and members at Plymouth City Council, and Tamar Housing (now Willowtree) for the support and for being part of this extraordinary journey.
This was just the start of something special.
