Rent to Own - Wales: research with private rental sector tenants

This research aimed to provide qualitative evidence to test assumptions and explore issues around home purchase in Wales. It will also assist the development of the Welsh Government’s Rent to Own - Wales and Shared Ownership - Wales schemes. Both schemes are designed to help those individuals/families who are currently unable to access home ownership.

The ongoing desirability of home-ownership over long term renting has been reflected in the development of government policies to increase the number of people able to purchase their own home. 

The Welsh Government has developed a number of schemes to enable this. 

In 2014, Help to Buy - Wales was launched. This was an adaptation of the scheme of the same name launched in England, and was aimed at both first time and existing home-owners. Potential buyers put down a minimum 5% deposit, and the Welsh Government provides a shared equity loan for up to 20% of the property price, with prospective buyers requiring a maximum 75% loan from an approved lender.

Under the UK-wide Help to Buy - Wales brand, an ISA product is also available to boost individuals’ savings to put towards a deposit, and this is also available to those living in Wales. 

Other schemes available in Wales include Homebuy. This is a Welsh Government scheme which, through the provision of an equity loan, supports people to buy an existing home on the open market. The equity loan (30% to 50% of the purchase price) can be repaid at any time but must be repaid when the property is sold.