Tel: 01803 863550
Tenants pay market value rent for up to 20 years, with an option to purchase at any time from year 2, up to year 5 of the tenancy. If they decide to take up the purchase option, 50% of the rent paid to the date of purchase will count towards a deposit up to a maximum of 10% of the market value on day of purchase.
Creating a deposit and building up credit history is typically the major barrier to first time buyers - this arrangement tackles both.
If, however, circumstances or personal choice means the tenants decide not to buy, by year 5, they still have the security of renting for a further 15 years; the choice is entirely their own.
This fantastic development is the result of a pioneering partnership between QSH, Plymouth City Council and South Devon Rural Housing Association (SDR). Plymouth City Council sold the building to QSH as part of its plan for Empty Homes initiative. The building has since under-gone quite a transformation, into 11 tastefully converted apartments. SDR have been consulted on aspects of the development and once occupied, will manage the building and tenancies on behalf of the Landlord, QSH.
If you are looking at an easy way to get on the housing market then this is an opportunity not to be missed. Phone Maitlands on 01752 661000 to discuss exact costs, prices, how it works and the benefits alongside the size and finish of the individual apartments.