Rent before you buy
Move into your dream retirement property while you wait for your current property to sell.
To take advantage of Rent Before You Buy, you need to:
- Meet with the Housing Manager or Senior Care Worker at your preferred retirement housing development to assess your independent living and care needs
- Ask to utilise the Rent Before You Buy scheme pending the sale of your property and reserve your chosen apartment with a £1,000 deposit
- Exchange contracts with a 4% deposit of the purchase price within 12 weeks of reserving
- Move into your new home on a short-term tenancy agreement called an Assured Shorthold Tenancy (AST) Agreement. The Agreement for Sale commits you to complete on the purchase of the MHA property, on completion of the sale of your own property.
How much does Rent Before You Buy cost?
Rent Before You Buy rates vary.
The rent for your apartment depends on its purchase price. As an example, if you want to purchase an apartment valued at £200,000, your rent would be as follows:
- 0 to 3 Months: Free | 3 to 6 Months: £115.38 per week
If completion has not taken place by the end of the 6 month period, the rent will increase to 100%; in the example above, this would be £230.76 per week. on section re how mcuh does it cost.
Please note the service and wellbeing charges are payable in addition to the rent.
*Please note that rent before you buy is only available on properties purchased via MHA.