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Buying with us

Ways to buy

We know owning your own home is one of the most exciting milestones in life which is why we have a range of ways to help you get on the property ladder.

Buying outright

If you are buying a home outright you will need to arrange a mortgage and have a deposit which can be as little as 5%. We ask for a £100 reservation fee which will be deducted from the sale price of your home and secures your chosen plot. If your home is already built we estimate it will take 10 – 12 weeks from reservation to moving in but we will keep you updated on a weekly basis on how the sale is progressing.

If your home is still under construction we will provide weekly updates and give you an estimated moving in date.

Rent-to-Buy

Rent-to-buy is a great option for aspiring homeowners that are not quite ready to purchase. Our rent-to-buy offer at York Hill gives you the opportunity to rent a property at a 20% discount* meaning you are able to save towards a deposit to buy your home at the end of the three year rental period. To be eligible for rent-to-buy you must meet the following criteria.

Rent to Buy Criteria

  • Aged over 18 years old and have a bank, post office or building society account
  • Be a first time buyer or returning to the market following a relationship breakdown
  • Be working at the time of letting (at least one applicant where there is a joint tenancy)
  • Have insufficient funds/deposit to purchase a home on the open market
  • Able to afford the rent to buy property without hardship or access to housing benefit 
  • Have no outstanding credit issues (i.e. unsatisfied defaults or county court judgements)
  • Have the ‘right to rent’ according to government standard guidelines

Applications for rent to buy are now closed.

 

Rent to buy FAQ's

Am I eligible for a rent to buy home?

To qualify for one of our rent-to-buy properties you must meet the following criteria:

  • Currently not renting with livin or any other social housing provider
  • Be aged over 18 and have a bank, post office or building society account
  • Be a first time buyer or returning to the market following a relationship breakdown (applies to all applicants)
  • Be working at the time of letting (at least one applicant where there is a joint tenancy)
  • Able to afford the rent to buy property without hardship or access to housing benefit
  • Pass an affordability/credit check carried out by livin
  • Have the ‘right to rent’ according to government standard guidelines

 

If you meet the above criteria, you will then need to complete an application form and provide evidence of your circumstances. Click here to complete an online application

How long do I have to rent the property?

Our rent-to-buy properties are let over a three-year period. You will be given a 12 month tenancy  which will be renewed annually until you have lived in the property for the three year period. 

How much will the rent be?

Before your home is advertised we will value it using a qualified charted surveyor and determine the market rental value. A discount of 20% will then be applied to this, which will be your weekly rental figure. Your rent will be reviewed annually and may be subject to an annual increase dependent on the rental market.  

How do I save the deposit to buy the home?

Saving to buy your new home will be up to you. We recommend you seek independent financial advice to decide on the best savings account available or get advice online from independent companies such as The Money Advice service  

Can I move out before the three year period?

You will be given a 12 month fixed term tenancy that will be renewed annually. You can, at the point of renewal decide not to renew however rent-to-buy properties are let with the view that you will remain in your home for three years. If your circumstances change during your rental period you can request to end your tenancy and we will consider this on a case by case basis. 

Do I have to buy the home at the end of the three years?

There is no obligation to purchase your home at the end of the three-year rental period. However if you decide not to purchase your home livin have the right to sell or rent to someone else meaning you may not be able to stay in the property. 

Can I sublet my property?

You are not permitted to sublet your property, however, you are able to take in lodgers subject to gaining written consent form livin. 

Can I decorate my home?

Yes you are able to make your house your home by decorating it, however you are not permitted to paint or change the exterior of your property. 

Can I make alterations to my home?

It is detailed in your tenancy agreement to what extent you can alter your property but you are able to do this subject to written consent from livin. 

Who is responsible for repairs?

During your tenancy livin is responsible for the repairs of fixtures and fittings in your home . Full details of owners responsibilities are available here.

 

 

Can I stay in my home after the three-year period even if I don’t buy it?

If you are unable to purchase your home at the end of the three year period but would like to remain in your home you will need to make a request to do this. This will be considered however, it is not guaranteed and we reserve the right to rent or sell your home to someone else. 

The cost of buying a home

Remember as well as the cost of your new home you will also have other expenses as part of your move. We’ve created this guide to help you budget.

Legal fees – You will need to appoint a solicitor to handle the legal part of your purchase. All solicitors charge slightly different fees so we recommend you shop around for the best deal but you should budget to pay between £350 and £500.

Valuation fee – If you are arranging a mortgage to buy your new home your mortgage company will want to carry out a valuation to make sure you are paying the right price. Basic valuations are sometimes included for free but if you have pay for your this, you should budget between £150 and £1000.

Surveyors fee – Before you buy your property you may want to get it checked by a surveyor. Basic surveys range from £250 up to £600 for full structural surveys. However it’s optional whether you want to have one carried out and remember you will receive a 12 month customer care guarantee as well as warranties for other part of your home. For full details on what warranties you will receive click here.

Removal costs – If you have large items that you want to move into your new home you should expect to pay between £50 and £100 per hour for a professional removal company.

Stamp Duty – All of the properties on York Hill fall under the stamp duty threshold meaning no stamp duty is payable.

Phone and internet connection: Once you have moved in you may want to set up a phone line and broadband and may be charged a connection fee which can cost up to £130 although sometimes it is free. 

 

For more information about moving costs visit The Money Advice Service.

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