Rent to Buy
Live for today. Save for tomorrow. Own the future.
We want as many people as possible to have a beautiful home to call their own, and at Peabody, we’ve been helping people in London and the south-east do this for over 150 years.
We understand how difficult it can be to get a foot on the property ladder these days. Too often people are forced into completely changing their lifestyle or making big sacrifices, like moving away from family, friends and work, just to be able to save for a deposit to buy their own home. For many, the idea of ever being able to afford to buy in London feels out of reach.
We are delighted to offer Rent to Buy at selected developments as a brand new way to make it possible for you to own a home. Rent your new home at a 20% discount, save as you go for a deposit and after 2 years own your home through Shared Ownership.
Make your homeownership dreams a reality at a visionary new community in London.
How does Rent to Buy work?
How much could you save?
Example: 1 bed apartment at Colindale Gardens
|Minimum annual household income||£45,000|
|Cost of your home||£380,000|
|Five weeks' deposit||£1,270|
|Market value rent (monthly)||£1,400|
|Monthly rent you will actually pay (-20%)||
A 20% discount on your rent means you can build up savings of £7,200 in just two years
Cost of buying through Shared Ownership
Your journey to owning your own home
Check you are eligible for Rent to Buy
- My household income is not more than £90,000 a year
- I don’t own a property already
- I am willing to agree with you a sustainable amount I am able to save every month whilst I am renting my new home
- I can afford the monthly Shared Ownership costs at the moment, but don’t currently have a large enough deposit to buy through Shared Ownership or outright
- I am able to show that I can obtain a mortgage based on my current credit report
- I am able to pass money laundering and fraud checks
- I am hoping to buy a home big enough to suit my current needs
- I am able to get a good tenancy reference from my current landlord
Speak to a Sales advisor for more information regarding eligibility and affordability criteria
Get in Touch:
020 7021 4842
(Mon - Fri 9am - 5pm, Sat - Sun Closed)
Featured Rent to Buy Developments
with deposit of £TBC