Rent First
What is the rent first Scheme?
‘Rent First’ is a scheme which enables people
to rent a property first and then purchase it, if they wish to, at
a later date.
The Rent First scheme provides a mid-market
housing solution for individuals and families who are in a
financially stable position and yet are unable
purchase a house at the present time due to economic uncertainties,
house prices and lack of deposit for a mortgage.
Under the Rent First scheme, rent will be
charged at a lower amount than market rent which will enable a
deposit to be saved. The tenant will then be able to purchase the
property after a period of three years.
Who will qualify for the rent first scheme?
To be eligible for the scheme applicants
must:
- Be over 18
- Be a UK citizen or EU/EEA passport holder or have ‘indefinite
leave to remain’ stamped in your passport
- Must have lived or worked in the Vale of Glamorgan for the last
6 months or have a relevant local connection to Llantwit Major or
adjacent communities
- For those leaving the Armed Forces, have lived in the Vale of
Glamorgan for 6 months prior to joining the armed forces
- Be a first time buyer or consider yourself to be first time
buyer in your own right
- Meet certain affordability criteria (including a minimum income
requirement)
For further information please phone
Contact One Vale on 01446 700 111 and ask for ‘Rent First’.
Please note there are no Rent First Schemes available at the
moment.