3 bed semi-detached house to rent

Fitzhugh Rise, Wellingborough NN8

Rent to buy – 3 Bedroom Semi Detached House (must meet criteria) Please read below information. A rare and exciting opportunity to rent a property with the option to purchase in four years time! A modern new build three bedroom semi detached house located in a sought after area of Wellingborough. Photos to follow soon!

•3 Bed 5 Person House
•Air Source Heating
•£1040.00 per month
•1 month rent required in advance
•5 week deposit required in advance
•4 years maximum tenancy
•Must have a household income of 4 x the annual rent (£49,920) but no more than £80,000)
•Must have the Right to Rent for the whole length of tenancy (4 years)
•Must understand the Rent to Buy Process and be in a position to purchase the property in 4 years

Rent to Buy is exactly how it sounds. You rent the property for 4 year and at the end you buy it. The rent on the property is set at 80% of the market rent (including service charge) allowing you to save money towards a deposit to buy the home you love.

Working households with at least one tenant in full time employment are eligible to take part in the Rent to Buy scheme.
You should not currently own a property, though we may consider you if you do but are unable to live in that home due to exceptional circumstance such as a relationship breakdown.
You have to be serious about buying a home in the future and committed to saving the 20% not being charged as rent towards a deposit. You will be asked to sign and Options Agreement confirming this.

The scheme is open to both first time buyers and those returning to the market having previously owned a property. You must demonstrate that you are intending to buy your own home in the future and commit to working towards saving a deposit to purchase over the 5 year tenancy term. You must be a working household with a minimum of one income through employment or self employment. This product is specifically for those customers who are unable to purchase on the open market currently and therefore the maximum eligible household income is capped at £80,000 per year. We will operate their discretion to refuse those who are already in a position to buy on the open market. You must not currently own another home however we may operate discretion where you can demonstrate that you do not have access to live there for example, through a relationship breakdown. Under this situation you would not be permitted to purchase
under the scheme until you have disposed of your interest in the other property.