Got questions? We’ve got answers.
Who is this for?
Rent-to-own is open to everyone, but it’s particularly helpful if you are struggling to save for a deposit, have poor credit, are self-employed, or are new to the country. It's a way to rent a home while also saving up to buy it later. Even if you've had credit issues in the past, rent-to-own might still be an option for you.
Who is rent-to-own for?
Who is rent-to-own not suitable for?
Rent-to-own might not be right if you won’t be able to afford future mortgage payments, your job situation is uncertain, you receive housing benefits or you're bankrupt. After a financial check, we'll let you know if you're eligible. If you're unsure, talk to us.
Am I eligible?
What level of income is required to qualify for the scheme?
While there are no strict criteria, applicants must pass our affordability checks. These checks involve assessing your household income and monthly expenses so we can work out what you can afford to pay each month.
What information do I need to provide?
We will need the following information from you:
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Your household income
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Historical payslips to verify employment
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Split of household income if purchasing with a partner
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Number of dependants in your household
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Permission to source your credit score
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Previous landlord references, if applicable
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Bank statements and monthly expenditure details
How does it work?
We secure a home for you to rent now and buy later, locking in the future purchase price from the very beginning. This means you can move in straight away while working towards homeownership over time.
Typically, the future price is based on the average house price growth in the UK of around four per cent per year. For example, if a home is purchased today for £200,000, the future purchase price would be £243,330 in five years.
To keep things simple, we agree that future price upfront – so you’ll always know what you’re working towards. If the property increases in value beyond that, the extra equity is yours to keep. If it hasn’t appreciated that much, we may be able to extend the rental term. Either way, you have the right – but not the obligation – to buy the property.
The commitment fee and monthly top-up payments help build a deposit of around 10%. This puts you in a strong position to get a mortgage at the end of the term – especially if saving for a deposit has been your main barrier to buying a home.
When the time comes to buy, you’ll also need to cover standard purchase costs – mortgage broker and legal fees, and stamp duty if the property exceeds £125,000 (or £300,000 for first-time buyers).
What are the steps I need to go through?
Step 1: APPLY FOR FREE IN JUST 5 MINUTES – A quick, no-obligation pre-qualification that won’t affect your credit score.
Step 2: FIND YOUR DREAM HOME – Once approved, we’ll set your home shopping budget. Then we'll work with you to find your perfect home.
Step 3: PAY A COMMITMENT FEE – Usually 3%-5% of the purchase price of your chosen property. The commitment fee comes off the purchase price when you buy the property.
Step 4: LOCK IN THE PURCHASE PRICE – The future purchase price is fixed from the outset, so you know what you’re working towards. Any increase in value over the agreed purchase price is yours to keep!
Step 5: LOCK IN YOUR RENT – Your rent stays fixed, with no annual increases. Enjoy peace of mind – no landlord will ask you to move because they want the property back.
Step 6: MAKE YOURSELF AT HOME – Live like a homeowner. Decorate, remodel, bring your pets – it’s your home from day one.
Step 7: BUILD SAVINGS TOWARDS HOMEOWNERSHIP – A portion of your monthly payment goes toward your future home purchase, getting you closer to owning your home.
Step 8: BUY YOUR HOME – At the end of the rental term, you can buy your home at the pre-agreed price or walk away with your savings (minus a relisting fee) if your plans change.
How much does it cost?
To get started, you'll pay a commitment fee of 3%-5% of the purchase price of the property you’ve chosen. Of this fee, £1,500 is a non-refundable fee. This covers the legal and admin work to secure your right to buy the home later – and gives you peace of mind that it’s reserved for you. The rest is safely put aside and goes towards the deposit you need to buy the house at the end of the rental term. After that, you'll pay your monthly rent as usual, plus a little extra called a 'top-up'. The rent covers your stay in the home, while the top-up helps you save to buy it. The top-up is also credited towards your down payment when you buy the house.
Will prices change?
Nope! Your rent, top-up amount and the future purchase price are all locked in from the start, so you know what to expect. No surprises here!
Can I get my money back?
We know that sometimes plans change – and if that happens, we’ll do our best to help you find the right solution. Our goal is always to support you in owning your own home, but if that’s no longer the right path, your savings are still protected.
At the end of the rental term, if you decide not to buy the property, you can walk away with your savings – that’s your commitment fee and monthly top-ups – minus a relisting fee equal to 2% of the property’s initial purchase price. This helps cover the cost of preparing the home, legal and admin work, and finding a new buyer.
If anything’s unclear, just ask — we’re here to help. And if you’re still not sure rent-to-own is the right fit, it’s a good idea to get some independent financial advice before applying.
Can I choose the house?
Yes, we will work with you to find your perfect home from available properties that are within your budget.
Living in the house
What rental contract will I have during the rental period?
You will sign a standard Assured Shorthold Tenancy (AST) agreement for the rental period. The monthly rent will be fixed for the term, so you’ll be able to manage your budget knowing there won’t be any increases in rental payments. You’ll also have the peace of mind that, as long as you don’t break the terms of the AST, you have the right to stay in the property for the full five years.
Do I own the property?
During the five-year term of the tenancy agreement, you are a tenant and do not possess any ownership rights to the property. However, at the end of this period, you have the option – but not the obligation – to buy the property.
Am I allowed to make changes to the property?
We want you to feel at home, so feel free to paint the walls, change the carpet and put up your favourite pictures! If you want to remodel (new kitchen, bathroom, an extension), you will need to get written permission from us before you proceed. Renovation projects can present challenges and may not always proceed as expected, but we aim to accommodate your plans where possible.
Who is responsible for any repairs?
As it’s your home, we expect you to look after the property and keep it in a good state of repair, including day-to-day maintenance and repairs. Prior to buying any property, we will commission a full survey to identify issues that may arise during the rental period. If significant issues are discovered, we wouldn’t buy the property. Additionally, we will have buildings insurance which would cover any major issues that may arise.
Can I have a pet in the property?
Yes, pets are welcome!
Buying the house
Will I own the house?
Eventually, yes! After the agreed time, you'll have the option to buy the house at the price agreed upon when you signed up. The top-up payments you've made are credited towards the down payment on the house. We'll connect you with mortgage brokers to help you find the right mortgage for you.
How do I know you’ll sell the house to me?
When you move into the property you will sign an Option Agreement which gives you the legal right to buy the property, but not the obligation to, should your plans change.
How long will it take to buy the house?
Typically, it takes around five years, but this timeframe can vary depending on your needs and situation.
What if I don’t want to buy the house after the rental term ends?
The Option Agreement gives you the legal right to buy the property, but not the obligation to should your plans change.
What if my circumstances change?
What happens if I want to leave during the rental term?
This scheme is designed to help people who want to own their own home but are currently locked out of the traditional mortgage system.
You should plan to stay in the property for the full rental term. But we understand that sometimes life happens. If your circumstances change, please talk to us and we’ll do our best to help you explore your options.
Just a heads-up: if you break the terms of your tenancy, we may need to end the agreement early – and you could lose the right to buy the home. You may also need to cover any remaining rent due under your tenancy agreement.
Can I buy the property before the rental term ends?
The earliest you can buy the property is six months before the end of the rental term.
How is BeHomed different from shared ownership schemes?
When you buy a home through shared ownership, you buy a share which will be between 10% and 75% of the full market value of the property (this can be with a mortgage). You then pay rent to the landlord for the share they own. Usually, you also pay monthly ground rent and service charges for the maintenance of communal areas.
The difficulty with this scheme is that, since the property value is always increasing, so will your rental payments on the part you don’t own. This means it can quickly become unaffordable for you to buy another share and ever own 100% of the property. With shared ownership, it can also be very difficult to sell, as there are few people who want to buy into the scheme. You are also limited to new-build homes or existing homes through a shared ownership resale scheme.
With BeHomed’s rent-to-own scheme, you can choose from any house that’s for sale as long as it’s within your budget and meets our criteria. The rental payments are fixed, as is the price of the property at the end of the rental term. This means you can budget and you know exactly what you are working towards. At the end of the rental term, if you choose to buy the property, it will be 100% in your name.
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