Deposit & savings

Deposits

Deposit criteria differs for Co-Own, Co-Own for Over 55s and Rent to Own.

If applying to Co-Own you may not need a deposit. Check this out with your chosen lender about this before applying to Co-Own.

If applying to Co-Own for Over 55s your share must make up at least 50% of the value of your new home. This can be funded by savings and/or the proceeds of the sale of your home or other assets. You may also use money that has been gifted to you to make up your equity.

If applying to Rent to Own you do need a deposit however if your application is successful you will also be required to pay a £2,500 Down Payment which is refunded when the tenancy comes to an end.

You can download our Budget Planner to help you work out how much you are spending each month, how much money you have left and how much you could potentially save.