1 bed flat to rent

Parker Drive, Newhaven BN9

Rent to buy – One Bedroom Third Floor Apartment (must meet criteria) located in a popular area of Newhaven. A rare and exciting opportunity to rent a property with the option to purchase in three years time! Photos to follow soon! Please ensure you read the full description. Should you wish to be considered for this property, please email the office in the first instance.

Rent to Buy - Flat 11 Felix House, 2 Parker Drive, Newhaven, East Sussex BN9 0FJ
1 bedroom 2 person flat
Void on 30.12 - likely not ready to let until end of Jan but must be available to move as soon as ready
Third floor
Gas heating
Shower over bath
£800pcm
Must earn 4 x annual rent (Min £38,400)
Must not earn or have savings over £80k
3 year tenancy
Must be committed to saving (rent is discounted by 20% to allow for this.
5 week deposit required
1 month up front required

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.