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Can I apply for a Gen H mortgage using the Rent to Buy scheme?
Can I apply for a Gen H mortgage using the Rent to Buy scheme?

Unfortunately, we cannot provide you with a mortgage if you are using the Rent to Buy scheme.

Alison avatar
Written by Alison
Updated over a week ago

Can I apply for a Gen H mortgage with this scheme?

Unfortunately, we cannot provide you with a mortgage if you are using the Rent to Buy scheme.

This is because when it becomes time for you to purchase the property, you must buy it using the Shared Ownership scheme, which we cannot accept due to our lending rules.

You can read more about Shared Ownership here.

What is it?

The Rent to Buy scheme allows you to rent a home for up to 5 years with a reduced rent amount, allowing you to save money for a deposit.

Between the end of the second year and the end of the five-year agreement you could apply to buy your home.

When you apply to buy your home you will receive 25% of the rent you have paid back, plus 50% of any increase in the property value since you moved in. That money can be used towards a deposit to buy the home.

To learn more about these scheme, you would need to contact your local Help to Buy agent, you can find this information here.

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