Tenants on track to buy
After launching our first rent to buy scheme in May 2020, we are pleased to announce that all tenants are on track to purchase their home.
Living in a rent to buy property means that for the first five years, tenants pay less than market rent, to allow time to save towards a deposit. It’s a national initiative to support people to get on the property ladder that do not have enough saved.
So far we've handed over 34 rent to buy homes in Scunthorpe on Lancaster Road, Rochdale Road, Collum Avenue and Crown Green Court.
An investment of around £4.3 million has been made so far on these types of homes, with us planning even more in the future, including five on Station Road in Scunthorpe. These are due to be handed over in December this year.
Properties are a mix of two and three-bedroom houses, and each is finished to a high standard with modern kitchen and bathroom, private garden, off street parking, and some feature electric charging points.
When moving into their home last year, Ryan Payne commented: “We rented before and without this option of paying less to save up a deposit, we would have definitely struggled to buy.
“This house is not only bigger, in a nicer area and perfect for our little family, but it gives us the option of actually getting on the property ladder, which is what we’ve always wanted.”
Jane Crookes, Lettings Manager here at Ongo said: “We knew when we launched rent to buy it would be popular, but we could have never predicted just how sought after and successful it would have been.
“Not only are people actively checking for the next development, one year in, those moved in are achieving the savings they need and are on track to buy.
“It makes us extremely proud to know these homes are allowing those without a deposit, and in some cases with no hope of ever owning their own home, do just that.
“We’re hoping to build lots more like this in the future, as part of our aim to build 225 new homes each year, so keep an eye out for them.”
To find out more about these homes or any of our upcoming developments, check out the development page on our website.