Affordable rent to buy housing

Affordable rent to buy housing

To purchase low cost properties at auction to rent out at council prices and allow tennents to save for a mortgage deposit within their rent

£0

of £30,000 target

0

backers

21

days left


Our area has many derelict properties come up for auction.  These are purchased by those living far away due to the low price and as a result are not improved.   I would like to purchase one of these intially to rent out at a low market rent (under £500) for a fixed period of time with up to £200 of that per month being put aside for the tenants future mortgage deposit (when we were renting at £500-£700 per month we were unable to save for a deposit due to other financial restraints and had to move in with a relative for two years to save enough for our low cost home).   The remaining funds will be used for improvements on the building and future investment as more properties come available.  If successful I would like to turn this into a social enterprise to help people onto the property market who otherwise do not qualify for government incentives.