Montpelier Close

UNDER OFFER!! A fantastic opportunity to secure a rent to buy home on the brand new Bromyard Development. Plot 113 is atwo bedroom homes available to rent at 80% of market value, and ready to move into in May with the option to purchase the home at the end of the five year period.

Stonewater, working in partnership with Worcester City Council, are offering eight rent-to-buy properties at their Bromyard Road development on the outskirts of Worcester..
This two bedroom semi-detached property comprises of kitchen/dining area to the front of the property with storage and a downstairs W.C, including a spacious living room to the rear with french doors opening up onto the rear garden. Upstairs offers two double bedrooms including cupboard space with a family bathroom. This home further benefits from two car parking spaces, an air source heat pump system for eco heating and also a rear turfed garden.
What is Rent to Buy?
Rent to Buy is exactly how it sounds. You rent the property on an initial tenancy term of 6 months only (non-negotiable). The rent on the property is set at 80% of the market rent (including service charge) allowing you to save money towards a deposit to buy the home you love with the 20% savings. After a 5 year period you will have the option to purchase the home using your savings. You will be required to show commitment that you intend to extend the rental period to the full 5 years.
What is the criteria?
Working households with at least one tenant in full time employment are eligible to take part in the Rent to Buy scheme.
You should not currently own a property, though Stonewater may consider you if you do but are unable to live in that home due to exceptional circumstance such as a relationship breakdown.
You have to be serious about buying a home in the future and committed to saving the 20% not being charged as rent towards a deposit. You will be asked to sign an Options Agreement confirming this.






What referencing checks will be completed?
• An Employment reference, confirming that as a household you earn at least four times the rental amount.
• A Landlord reference, confirming you have always paid your rent on time and looked after previous properties you have rented.
• A Credit reference, confirming you have an adequate credit score to be able to secure a mortgage at the end of the 5 year tenancy.
• A Right to Rent check, confirming you have a legal right to rent a property in the UK.
• Money Laundering/fraud prevention checks include a check of valid photographic and proof of address identification.
There will be no cost to you for the referencing checks.