Innovative ‘Rent to Buy’ scheme offers another way to find a
home
23rd February 2009
Somer Housing Group is pioneering a new scheme
for would-be homeowners in Bristol called ‘Rent to Buy’.
For people desperate to get on the housing ladder, who can't
afford a mortgage, can't get a mortgage or have simply been put off
purchasing in the current economic climate, it offers the best of
both worlds.
Homes are let at a substantial discount (the rent is calculated
at 80 per cent of the local market rent) and at a later date the
occupier is given the first chance to buy the property through the
popular New Build HomeBuy scheme (part-buy, part-rent).
One of the first people to take advantage of the scheme is
Magdalena Czuchraj, who has just moved into Tenon Building in North
Street, Bedminster. She and her partner were desperate to find
somewhere, after they were forced to move out of their
privately-rented flat. She explains:
‘I was an assistant manager at a pub and the
landlord went bankrupt. My partner and I had to move out of the
flat above the pub, when it was repossessed and the gas was cut
off. We weren’t even given any notice.
‘The flats we saw were awful and the rents
were very high. We were really pleased to find brand new flats in
Tenon House, that we could afford. The Rent to Buy scheme is good
for us – we want the security of a three-year tenancy, so we know
we won’t be kicked out again. It’s also flexible, so we have the
option of moving out on each anniversary.
‘When we viewed the flat, we really loved it.
We asked about the asking price and hope that we may be able to buy
it one day. After I’ve finished my degree, I should have better
prospects and be able to get a better job.’
Magdalena has settled into her home, and likes having a reliable
landlord, which can sort problems out. She also appreciates the
fittings in the flat:
‘I like the fitted kitchen, which came with a
fridge freezer, cooker, dishwasher. I’m happy to live here, it’s
great to have the opportunity and I can see it as a future home. I
think people should seriously consider Rent to Buy. For a
one-bedroom flat it’s perfect.’
Rent to Buy is available to people who are in housing need and
have a local connection to the area. Magdalena identified the
property through Edwards Estate Agents and, after applying to Somer
Housing Group, registered with the area’s HomeBuy agent, New
Futures, and was nominated by Bristol City Council.
Somer currently has one-bedroom flats at North Street; one and
two-bedroom flats in Marsh House, Bristol City Centre; two-bedroom
flats at Henry House in Withywood; and two-bedroom flats at Toynbee
Road in Knowle.
Anyone interested can email sales@somer.org.uk or call 01225
366026 to find out more and register their interest in this new
scheme. There’s also an open day at Edwards Estate Agents, 12 North
Street, Bedminster, Bristol, BS3 1HT, from 10am – 3pm on Saturday
28th February, where people can drop in and find out more about
Rent to Buy.
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