22 Year Home Loan
3 years of renting followed by a 22 year home loan
Fixed Interest Rate
Fixed monthly repayments during the 22 year home loan period
Step into home ownership
Initial rent is approximately 10% lower than home loan option
Fixed House Price
After 3 years of renting, you may purchase the house at the initial Rent to Buy price
The typical Rent to Buy customer has a good history of managing their financial affairs and a GOOD CREDIT RECORD but falls short on affordability. The Rent to Buy product offers clients the opportunity to step into home ownership.
Test out home ownership
Some of our customers may qualify for a home loan but they are hesitant to make a long term commitment and enter into a home loan agreement today. However, they would like to secure an option to buy a home while renting.
Build up a credit history
Our customers have, for whatever reason, not yet established an acceptable credit record, but they meet affordability requirements. For example, customers whose incomes are predominantly commission based, or entrepreneurs. During the three year lease period you can build up a credit history with Chartwell.
How does Rent to Buy work?
Your initial rent is approximately 10% lower than the home loan option
The initial rent increases on an annual basis over the three-year period
After 3 years of renting you may purchase the house at the INITIAL Rent to Buy price
Your home loan is at a FIXED interest rate, with a term of 22 years
Chartwell Rent to Buy applies to Chartwell’s Developments. Choose your home here.