Rent to Own is our alternative route to home ownership. Many people aspire to home ownership but believe they can’t due to obstacles like employment or credit issues.

Our aim is to get those who want to own their own home, but aren’t quite in the position to buy yet, on the first step of the property ladder. You choose to rent a new build house anywhere in Northern Ireland (up to the value of £195,000) for up to 3 years whilst taking steps to improve your mortgagability.

At the end of the tenancy, you can buy the property from us at its current market value. We’ll give you a 20% refund of the rent that you have paid which can be used as a deposit for your mortgage on the property. Simply put, you choose the property, we buy it, you rent it and then buy it from us! Easy!

Buying your property

You can purchase the property from us any time after the end of the first year, up to the end of the third year. Depending on the best fit for your circumstances at the time, you can buy your Rent to Own property through a mortgage or through Co-Own. When you buy your Rent to Own property, the price will be the market value at that time. This will be at least the price we paid for it.

Benefits of Rent to Own

There are a lot of benefits of Rent to Own:

  • Allows you the time to address your eligibility issues while living in the house that you want to make your home.
  • Security and peace of mind, it removes the fear of “when is the landlord going to want his property back”.
  • It will help you to build a deposit for your mortgage.
  • You choose the property in a location that you want to be in.
  • By partnering with Experian, Rent to Own can improve your credit rating through the Rental Exchange. Check out our Help & Support section for more information.

The legal bit

Rent to Own is brought to you by OwnCo Homes Limited, a subsidiary of Northern Ireland Co-Ownership Housing Association.  Landlord Registration Number: NI6F626999