RENT, SAVE, BUY
ELIGIBILITY
TICKING EVERY BOX
Greenhaus – the largest Passivhaus Classic Certified development in the North West – has completed, bringing 96 highly sustainable, affordable homes to Chapel Street in Salford. The monthly cost of heating and hot water at Greenhaus is expected to be less than half that of a similar sized new build home with a gas boiler. Built to Passivhaus Classic Certified standard, the leading low-energy design standard, the nine-storey development provides homes that offer high thermal comfort and improved air quality, enabling a healthier living environment as well as lower bills. The homes incorporate a range of benefits for occupiers, including triple glazing, air source heat pumps and the latest in insulation technology, which contribute to higher thermal comfort and improved air quality. These features, in turn, contribute to a healthier living environment by reducing the risk of damp, mould and condensation. Outside, residents will also benefit from electric vehicle charging points and a public square complete with landscaping to foster and encourage community spirit. Greenhaus is a mixed tenure development of one and two bedroom homes, including two accessible apartments on the ground floor. It comprises 11 homes for social rent, 13 homes for affordable rent and 72 homes available as part of the Rent to Buy scheme.
To be eligible for Rent to Buy, you must be: In full or part-time employment A first time buyer Able to pay your rent and save for a deposit at the same time. You may also be eligible for Rent to Buy if you are returning to homeownership following a relationship breakdown. A landlord may check your income and credit history to decide if you’re eligible. HOW THE SCHEME WORKS You apply to rent a property that is in the scheme. If you’re considered eligible, and the property is still available, it will be offered to you. Your initial tenancy agreement will be for up to two years. After that, if you need more time to save for a deposit, your landlord may agree to extend your tenancy. If you do not pay your rent on time or you don't follow the terms of your tenancy agreement, you may not be allowed to stay in the scheme. You can buy a home as soon as you have saved up enough deposit and are able to get a mortgage.
CASE STUDY
Kya Jones is one of the first residents to move into Greenhaus. The 29-year-old is a Senior Business Analyst in the tech sector and moved to Salford in 2019 from her home town of Liverpool to be closer to her job in Manchester city centre. Kya had previously lived at another Salix Homes development – Artifex in the Trinity area of Salford – but was attracted to the green credentials, affordability and location of Greenhaus. She explained, “The whole idea of Greenhaus with its eco-credentials, cheaper bills, health benefits, and not to mention the great location, really appealed to me. It ticks every box and I’m really excited about making Greenhaus my home.”
HOW TO APPLY
Kya has opted for a two bedroom apartment under the Rent to Buy Scheme. Rent to Buy is a Government scheme designed to ease the transition from renting to buying a home by providing a subsidised rent at around 20% below the market rate. People are able to rent the properties for five years at the reduced rate, leaving room for them to save towards a deposit and then have the option to buy their home after the five-year period. Kya works from home regularly, so is using her second bedroom as a home office, but is also just a 20-minute walk from her workplace in Manchester city centre. Kya added, “I like city centre living – I like being able to walk to work and to the shops – it suits my lifestyle, but the cost of an apartment in the city centre is just not affordable. With Greenhaus and the Rent to Buy scheme, I’m getting the benefits of the location, so close to Manchester city centre, but without the city centre prices. “The cost of living in general has gone up such a lot, so I jumped at the opportunity to have a home where the outgoings will be significantly less. For me, Greenhaus is about thinking ahead for my future – if I do have a family and children one day – the thought of living in a healthier home, where the air is cleaner and greener, is also a real benefit.” There are 44 two bedroom and 28 one bedroom apartments available through Rent to Buy with prices starting from £920 per month.
If you live in England (excluding London), you can search for organisations that have Rent to Buy homes using the shared ownership scheme service. Properties in London are covered by a separate scheme that is called London Living Rent.
COUNCIL AND HOUSING ASSOCIATION HOMES
Some local councils and housing associations advertise Rent to Buy homes. Check the shared ownership scheme service or with your local council or housing association for more information.There may be extra eligibility requirements to apply. BUYING A HOME You can use the deposit you’ve saved to buy any home, including those available using an affordable homeownership scheme. IF YOU WANT TO BUY THE HOME THAT YOU ARE RENTING You may be able to buy the home that you’re renting if your landlord agrees. If your landlord decides to sell while you’re a tenant they must give you the option of buying your home first. The price
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renting through the shared ownership scheme if: Your landlord agrees You’ve saved enough deposit to buy a share You can get a mortgage You meet the eligibility requirements. Check with your landlord whether buying the home you’re renting through shared ownership is an option.
you pay will be the property’s market value. This may be more or less than when you first rented your home. Check with your landlord whether buying the home you’re renting is an option. BUYING THE HOME YOU’RE RENTING THROUGH SHARED OWNERSHIP
You may be able to buy the home you’re
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