New Aylesbury scheme enables buyers to purchase a property after renting it for just two years
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The brand new development of 163 apartments, The Square, Gatehouse Way, is built in a quadrangle in the centre of Aylesbury with flats available to buy and to rent.
The rent to pay scheme enables renters to accumulate a portion of their rent for two years as a deposit to buy. Tenants use their rent as the basis for home ownership in the development, which has a gated square, and is a stone’s throw from Aylesbuy's Chiltern Line station, shops, pubs, wine bars, restaurants, gyms, a theatre and a cinema.
This opportunity is available for first-time buyers who are employed and they will need to pass rental credit references and independent financial advisor criteria checks.
Connells Aylesbury New Homes Sales Advisor Sophie Walsh-Spencer said: “If you are tired of renting and never knowing if you’ll be able to renew your tenancy or if your rent will go up and you dream of stepping onto the property ladder but can’t afford the deposit, Rent to Buy, may be the solution.
“You can rent a home while a portion of your payments accumulate towards the 10% deposit required for a mortgage. After two years, your rental premium and a contribution from the developer can go towards the deposit needed for a 90% mortgage.
“As well as appealing to local people, with train times of 55 minutes London-based workers are also attracted to the Square by how much they get for their money. “
A one bed rent to buy apartment with parking can be bought on £194,250 and a two bed from £239,295, both with parking.
Similar to a Personal Contract Purchase (PCP) plan for vehicles, the Rent to Buy scheme allows you to enjoy the apartment for up to two years before buying. Tenants start paying towards owning their own home without a lump sum. The apartment price and rent are pre-agreed and locked for two years.
For details or to view please contact Connells estate agents in Aylesbury – 01296 395710.