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Blog HomeNow Pioneers Accessible Home Ownership with Innovative Rent-to-Buy Scheme – Buying Homes for Real People

24 Apr 2024
buying homes for real people homenow

HomeNow, a visionary ‘Rent to Buy’ scheme, has positioned itself as a critical player in the housing market in recent years, particularly for those struggling to save for a home deposit. Led by CEO Jonathan Potter, a seasoned innovator with roots in fintech, HomeNow simplifies the path to homeownership by allowing potential buyers to rent their future homes while gradually building equity.

At a time when property prices are soaring and saving a deposit is increasingly out of reach for many, HomeNow offers a practical solution. Suitable applicants undergo a streamlined process beginning with a brief consultation, followed by income and credit assessments, leading up to the selection of any property for sale across England and Wales. This flexibility is enhanced by the possibility to rent a home valued at up to 5.5 times their income.

Under the stewardship of COO Gareth Ship, HomeNow ensures a stable living environment with a five-year fixed rental agreement, shielding residents from unexpected rent increases. This term also grants residents the freedom to renovate and personalise their property as they see fit, fostering a sense of ownership from day one.

A standout feature of the HomeNow scheme lies in its unique financial incentive awaiting residents at the conclusion of their rental term. Under this innovative program, tenants stand to gain one-third of the increase in the property’s value that can be utilised as a deposit should they opt to buy the home. This innovative approach not only assists residents in building capital but also aligns with the social goals of providing secure and affordable housing solutions.

Amidst the complexities of the housing market, HomeNow emerges as a beacon of hope, presenting tangible solutions that tackle the twin challenges of affordability and the daunting task of saving for a deposit. In an ever-evolving landscape, HomeNow steadfastly upholds its mission to democratise homeownership, employing innovative housing strategies and robust leadership to deliver meaningful social change while meeting investor objectives. As aspirations for homeownership remain within reach, HomeNow continues to pave the way for a more inclusive and accessible housing future.

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