How does it work?
With a part buy – part rent agreement from your home, you buy a share of the property, with your deposit, and you rent the rest. There's no need for a mortgage and you have the right to buy more of the property, or your entire home, outright, at any time.
Your initial share is the percentage of the property that you want to buy outright with cash, from a minimum of 30% deposit.
Who is eligible?
We're doing away with income restrictions and limits on what kind of property you can purchase to offer a part buy – part rent solution that caters to the movers and shakers out there.
As long as you are buying a property available on the second-hand market as a freehold, and you plan to live in it as your main and only residence – Your Home can expand your opportunities.
For now and for the future
With a part-buy, part-rent solution, many people find themselves in the position of looking for the homes they truly want, not what they can afford outright.
Like with a mortgage, you will pay a fixed monthly amount. This is your rent and is paid on the percentage of home that you have not bought through your initial share. Unlike a mortgage, the rent is linked to inflation through the Retail Price Index (RPI), not interest rates.
As your personal income and savings grow over time, you're free to up the percentage of the property that you own, gradually increasing your initial share and decreasing the percentage you pay rent on.
Any property in the market
No more restrictions. No more looking at certain new builds in certain towns. With Your Home, the choice is yours.
Search the market, speak to estate agents, view the properties you want.
Your Home, your value.
Benefit from the increase in value
If you sell the property you will be entitled to the full value of the share you bought, as well as 50% of the value increase on the share you didn't buy initially – potentially helping you reach that next rung on the property ladder.
Increase your share at your pace
You retain the right to buy more – or all – of the property at any time. If the property has gone up in value, you will be entitled to a discount on your share purchase of 50% of the value increase.
Whether you're just getting started on the property ladder, or you're considering a step up. Your Home offers a product designed to expand your choices.