‘Rent to buy’ is for people who could qualify to buy a shared ownership property but cannot afford the deposit for the mortgage. In these circumstances you can rent the property, normally for up to three years, at approximately 80% of the market rental value. You can then save the 20% discount you are getting to build up a deposit for your mortgage. Once you have enough money put aside you can then purchase the property on a shared ownership basis. Sometimes people call this scheme "try before you buy".

SmartShare is the first national property website that is dedicated to affordable housing. We have thousands of properties available throughout the UK from many of the leading Housing Associations click here to go to our website www.smartshare.co.uk

For more answers to your affordable housing questions go to: http://www.smartshare.co.uk/frequently-asked-questions-about-affordable-...