Rent to buy (also known as Rent to Save) is a scheme designed to help people save to buy a home by charging a reduced rent. This enables households to save for a deposit to buy a home.
Homes are available to rent with a short-term lease (this can be anywhere from 6 months to 5 years). Once your rental lease is up, you have the option of buying a share of the house you live in, in the same way that shared ownership works, or moving on. Think of it as a ‘rent before you buy’ scheme.