October 4, 2021
Ten ‘Rent to Own’ homes near completion in Presteigne
Ten ‘Rent to Own’ homes are nearing completion at a new housing development in Presteigne, Powys.
Potential homeowners can now register their interest in acquiring a property with local estate agents, Morris, Marshall and Poole with Norman Lloyd working in conjunction with housing association Barcud.
The ten properties are available under the Welsh Government’s ‘Rent to Own’ scheme which helps people who cannot save a deposit for their home.
A range of two and three-bedroom houses and bungalows are available.
Bryan Jarman, a Chartered Surveyor at MMP/NL, said: “Rent to Own allows you to build up a deposit while you’re renting the property. It’s aimed at people who cannot save up for a deposit for a home by saving through your rent.
“You will initially rent the home and can receive 25% of the rent paid over the duration of the tenancy and 50% of the increase in the property value during the period of time you have rented the property to use as a deposit towards purchasing the property.”
Up to five years to save a deposit
The scheme lasts up to five years and the property can be bought anytime between year two and year five.
The properties at Presteigne are being constructed by SJ Roberts for Barcud, a local housing association covering Mid and West Wales.
The 10 properties are being marketed by MMP/NL.
Anyone wanting to register their interest can call Bryan Jarman or Sarah Breeze on 01938 554818, or Huw Evans on 01686 626160.