Rent Before You Buy

Rent Before You Buy is a scheme that helps you move into your dream home at MHA without waiting for your current house to sell. You can rent one of our beautiful retirement properties for up to six months, with the option to buy it later at a fixed price. You can also enjoy a rent-free period for the first three months, and a 50% discount for the next three months.

To take advantage of Rent Before You Buy, you need to:

1. Meet with the Housing Manager or Senior Care Worker at your preferred retirement housing development to assess your independent living and care needs.
   
   
2. Reserve your chosen apartment with a £1,000 deposit and apply for the Rent Before You Buy scheme.
   
   
3. Exchange contracts on your apartment purchase with a 4% deposit and start the conveyancing process.
   
   
4. Move into your new home on a short-term tenancy agreement called an Assured Shorthold Tenancy (AST) Agreement. The Agreement for Sale commits you to complete on the purchase of the MHA property, on completion of the sale of your own property. 

How much does Rent Before You Buy cost?

The rent for your apartment depends on its purchase price. For example, if you want to buy an apartment worth £200,000, your rent would be as follows:

0 to 3 Months: Free | 3 to 6 Months: £115.38 per week

Please note that you also need to pay the service and wellbeing charges on top of the rent from the start of your tenancy.

Who can take advantage of Rent Before You Buy?

Rent Before You Buy is only available for properties that are registered in your name with the Land Registry. This means that properties in Scotland and the Isle of Man, as well as park and mobile homes, are not eligible for this scheme.