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Frequently Asked Questions FAQs

Why HomeNow?

Why is this needed?
What does HomeNow do?
Who is it HomeNow can help?

How does it work?

How does HomeNow work?
Do I need a deposit to join the HomeNow scheme?
Can I rent with a partner or friend?

Am I eligible?

What is the income criteria to qualify for the scheme?
What information will I need to provide?
How do you work out what I can afford to pay each month?

Choosing the Property

With HomeNow, can I choose the Property?
With HomeNow, can I choose ANY property?"
What is “freehold” / "leasehold"?"
Does the property have to be a new build?

What makes HomeNow different?

How is HomeNow different from the standard rental model?
How is HomeNow different from shared ownership schemes?
Why would you share the increase in value with me?

Living in the property

Do I sign a standard Assured Shorthold Tenancy (“AST”) Agreement?
Do I own the property?
Can I make modifications to the property?
Who is responsible for paying for any repairs?
Can I have a pet in the property?

Buying the house after five years

How do I know you will sell the house to me?
How do you come up with the valuation?
What happens if house prices go down?
What happens if the house price has not increased enough after 5 years?
Why does this need to be a 5 year term?

What if my circumstances change?

What happens if I want to leave before the 5 year term is finished?

Who is HomeNow?

Who is BOMAD Investments Limited?
Is BOMAD Investments Limited regulated by the Financial Conduct Authority?
What happens if HomeNow goes into liquidation or falls into receivership or administration?


Can I buy the property before the end of my tenancy?