Couple sit on sofa with dog

Rent to Buy

Pay a lower rent while you save for a deposit

What is Rent to Buy?

Rent to Buy is a great way to buy your own home. The scheme enables working households to buy a home by first renting it at below the local market rent, this discount helps them to save for the deposit so they can buy the home in the future.

Who can apply for Rent to Buy?

To qualify for Rent to Buy, applicants will need to be in a working household, earning less than £80,000 per year. This means that at least one person who’ll be moving into the property must be in full time employment.

It is designed for first-time buyers or for those applicants returning to the market who have exceptional circumstances, such as the break-up of a relationship, whereby they are unable to currently afford to buy a property outright on the open market.

Who is eligible?

Applicants will be assessed to ensure that they’re eligible for the scheme and that they can’t currently afford to buy a home on the open market. Existing owners of another property, either in this county or aboard, cannot apply.

All applicants applying for Rent to Buy will be financially assessed and required to enter a Rent to Buy Option Agreement, confirming their intentions to use the benefit of the five-year reduced rent period to help them save towards a mortgage deposit. This will be monitored and assessed annually throughout the five-year term.

They will be subject to the following checks:

  • A Right to Rent check and fraud prevention checks to confirm that they have a legal right to rent a property in the UK. They will be required to provide valid proof of their current address and photographic ID.
  • An employment reference and confirmation of the monthly household income.
  • Credit referencing to confirm that they have an adequate credit score to obtain a mortgage during the five-year period to purchase the property. We will be unable to proceed if applicants have been subject to any Bankruptcy or County Court Judgements (CCJs) issued within the last three years.
  • A reference from their current landlord or letting agency (if applicable).

To be eligible for Rent to Buy, you must be:

  • in full or part time employment
  • a first-time buyer or be returning to home ownership following a relationship breakdown
  • have an intention to buy your home.

How does it work?

With Rent to Buy your rent will be discounted by around 20% compared to the market rent in the area. This discount allows you to save towards a deposit in the future.

Before you enter the scheme we'll need to make a few checks on our pre-qualification form (submissions will open when Rent to Buy homes are available).

  • The home must be affordable to you and affordability assessments will be carried out and references requested.
  • You must be intending to purchase the property in the future.
  • You meet the eligibility criteria above.

If you meet all the checks you can then complete an application for a home. 

If you're successful we'll issue you an assured shorthold tenancy on a fixed term of five years.  At some point between years two and five you will be expected to purchase your property using either our shared ownership scheme or with a mortgage scheme. 

The purchase of your property will be at the current market value at the time of proceeding to buy, not the valuation when you initially started your tenancy

How much do they cost? 

We can't give you the purchase price because housing market fluctuations mean that the price now will not be the price in two year's time, when you will first be able to buy the property and as the purchase might not happen until year five, this means that the price will have varied even more. 

What happens if I don't buy the property by year five?

If you don't purchase your property by year five you'll be expected to leave the property there is no option to continue to rent.

Who handles repairs?

While you're renting the property, Alliance Homes will look after the repairs. 

Are there any property checks?

An inventory of the property will be taken when you move in and regular inspections of the property will take place during your time as a tenant.

What happens if I decide not to buy?

If you decide to leave rather than purchase the property you will need to give us four weeks' notice in writing before leaving.

Where are Alliance Homes Rent to Buy properties

Currently Alliance Homes only has one development with properties that are available through Rent to Buy and that’s Marina Gardens in Portishead.

How do I apply?

You can begin the application process by completing our Pre-Qualification Form once you have viewed the available Rent to Buy properties. 

Security deposit

A security deposit will be payable prior to moving in, which is calculated at five weeks’ rent, including any service charge. The deposit will be held in a protected Tenants Deposit Scheme to which the applicant will be given all details.


Applications will be dealt with on a first come, first served basis. Applications will be for specific apartments so you will need to know the apartment number you wish to apply for.