Belfast Telegraph

First rent to own tenant gets the keys to new home

By Margaret Canning

Lagan Homes has said it is helping 22 households towards home ownership after joining a co-ownership scheme launched by the Department for Communities.

The company said that seven aspiring owners are preparing to move into the newly-built Lynn Hall Park in Bangor under the scheme, with another 15 soon to follow.

It allows someone to rent a new home for up to three years and then receive a 25% rebate towards a mortgage deposit to buy the property if they wish.

It's aimed at helping people who would not otherwise be able to afford a mortgage.

Carolyn McAuley, who has signed up to rent a home under the scheme, said: "Rather than just renting a house, the rent to own scheme gives us the opportunity and assistance to ultimately purchase and own our new home."

Belfast Telegraph