Applications open for “very real opportunity” to get on property ladder 

We've opened applications for our unique Rent to Home initiative, which enables renters to reclaim up to 70 per cent of the rent they pay to use as a deposit for their first home. 

The award-winning initiative - the only one of its kind in the UK - is inviting applications for our Longstanton property, giving first-time buyers the opportunity to build towards homeownership while renting a refurbished home. 

Patrick Foulger, a recent ballot winner, described the Rent to Home initiative as a “very real opportunity” to get onto the property ladder. 

Peter Burrows, Chief Executive, at The Cambridge, said: 

"We’re delighted to be making our Rent to Home property in Longstanton available again and giving another household the opportunity to build towards homeownership." 

“Saving for a deposit while paying rent and everyday household costs remains a significant challenge for many aspiring first-time buyers. Rent to Home was created to help bridge that gap, turning a proportion of the rent tenants pay into a future deposit.” 

The three-storey townhouse on Mitchcroft Road has three bedrooms, a flexible study or fourth bedroom, a family bathroom and en-suite. It also features a fitted kitchen with integrated appliances, a spacious living room with patio doors leading to the enclosed rear garden, plus two allocated parking spaces. 

Around six miles from Cambridge, the property also benefits from access to the Guided Busway and road links via the A14, M11 and A1. 

Launched in 2019, Rent to Home is designed for people who can comfortably afford monthly rent but find it difficult to save for a deposit at the same time. Successful applicants can rent one of The Cambridge’s refurbished properties for between one and three years. 

When they are ready to buy their own home, tenants can reclaim up to 70 per cent of the rent they have paid to help fund their deposit. 

This latest round of applications follows recent move-ins at The Cambridge’s two Great Shelford Rent to Home properties, while earlier this year a family of four moved into the Society’s Northstowe property. 

For Patrick, Rent to Home has turned the idea of buying a first home from a long-term ambition into something he can actively plan for. A software engineer working in cyber security, Patrick recently moved into one of The Cambridge’s Great Shelford Rent to Home properties after finding the search for a home overwhelming. 

Like many first-time buyers, he faced the pressure of high house prices, the need to build a sizeable deposit and the challenge of doing so on one salary while continuing to pay rent. The scheme has given him a practical stepping stone - a refurbished rental home he can afford now, while up to 70 per cent of his rent can be put towards a future deposit. 

Patrick said: 

“At first glance it seemed like a really good opportunity, almost like a too good to be true opportunity. But the second you actually find out, you know this is now a very real opportunity. Rent is a very expensive, and 70 per cent of your rent is a substantial amount of money. It’s allowing me to live in a much better flat than I would otherwise have been able to afford, while still being able to save for a mortgage.” 

His experience shows the real impact Rent to Home can have for aspiring homeowners: reducing the trade-off between renting and saving and giving first-time buyers a clearer route towards securing a mortgage. 

Nine tenants across six Cambridge-rented properties are currently on track to benefit from the scheme, with more than £201 thousand in rent projected to be returned in coming years to help fund first-time buyers’ deposits. 

Abigail Smith, Property Manager at Cheffins’ Cambridge office, said: 

“We are delighted to continue our partnership with The Cambridge on the Rent to Home initiative. This forward-thinking scheme offers a practical solution for people who are finding it challenging to save for a deposit, while providing high-quality homes during their journey towards homeownership. 

“It has been particularly rewarding to see tenants successfully complete the scheme and purchase their own homes, and we look forward to supporting the next Rent to Home tenant in Longstanton.” 

Ten previous Rent to Home tenants have now gone on to purchase their own homes, collectively reclaiming £169,290 to support their move onto the property ladder. 

For questions, or to register your interest, visit our Rent to Home page, email makingthedifference@cambridgebs.co.uk or call 0345 601 3344.