Co-Ownership, is celebrating its 60th Rent to Own customer, and its first in Armagh where it recently helped Clare and her two young daughters to move into a new build home in the area.
An alternative route to homeownership, Rent to Own helps those who are currently unable to get a mortgage to buy their own home but are working towards it. Customers choose to rent a new build property anywhere in Northern Ireland, up to the value of £165,000, for up to 3 years whilst taking steps to improve their chances of getting a mortgage.
At the end of the tenancy, tenants can buy the property from Co-Ownership at its current market value. 20% of any rent paid is refunded and can be used as a deposit for a mortgage on the property.
Clare commented: “Rent to own was the right thing for us at the right time, it means I am making all the steps in the right direction to where I want to be. It might take me a little longer to get a mortgage, but I am getting there.”
She added: “It was just amazing to walk into this new house, getting the keys to the house for the first time was like a dream for me and my girls, there was such excitement moving in. We have so much space and the girls have their own room. I can’t wait to put my own finishing touches to it.”
“For me there was no other option, I would have had to keep on renting, I’m so glad I went for Rent to Own as I got my dream before I thought possible.”
Co-Ownership’s Chief Executive, Mark Graham, said: “We are delighted to have now helped 60 people in Northern Ireland find their own home through Rent to Own. With Rent to Own, people can move into the home they want now, and we will work with them over the next three years, helping them to get into a situation where they can get a mortgage to buy their home. I am immensely proud of the work we do helping people into homes.”
To find out more about Rent to Own, visit www.co-ownership.org