Question 1

Why is this needed?

Accepted Answer

Many people find their rental costs take up so much of their monthly income, it is nearly impossible to save for a deposit required by mortgage lenders. This is commonly referred to as the “Rent Trap”.

Question 2

What does HomeNow do?

Accepted Answer

HomeNow gives a real boost to renter's ability to get on the housing ladder. HomeNow purchase houses for people who don't have enough money for a typical mortgage deposit. The ideal family home is bought and held on their behalf in our HomeNow fund. The person rents the property from the fund and, after five years, benefits from a third of the increase in value of the property (received via a rent refund). This will contribute towards a deposit, either to purchase the house you have been living in or any other property you wish to move to.   On top of sharing the increase in value, our tenants Choose the property they want to live in - you are not restricted to picking from homes for rent, instead you look at homes for sale Receive security of tenure - your Assured Shorthold Tenancy agreement is for a period of 5 years, there is no more concern you will be asked to move on just when you have become settled in an area Receive financial security - your rent is fixed for 5 years. This means you will know what your biggest expense will be for the next 5 years

Question 3

Who is it HomeNow can help?

Accepted Answer

Many people may be in a position to afford the monthly cost of a mortgage, though are currently renting and are unable to save up for the deposit they would need to buy a house. These are some of the people we are looking to help.

Security Now. Stability Now. Home Now

Frequently Asked Questions

Why HomeNow?

How does it work?

Am I eligible?

Choosing the property

What makes HomeNow different?

Living in the property

Buying the house after five years

What if my circumstances change?

Who is HomeNow?

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