Family of four takes step towards their ‘forever home’ after Rent to Home win

A family of four has moved into our rental property in Northstowe after being selected at random in our Rent to Home ballot. 

Caitlyn and Toby, who live with their 18-month-old son Arthur and baby George, are among the latest tenants to join the scheme, which enables renters to have up to 70 per cent of the rent they pay returned to use towards a deposit when they are ready to buy their own home. 

For the couple, the scheme provides the opportunity to give their growing family a secure home while building towards their longer-term goal of homeownership. 

Caitlin said: 

“I nearly didn’t answer the phone because it was a random number, but when they told me we’d won the Rent to Home ballot, I was jumping up and down saying, ‘oh my god, oh my god!”
 
“Winning the Northstowe ballot give us the chance to save for a mortgage deposit over the next three years, have a garden for our children and, most importantly, know that we’re on the path to owning our forever home. It’s something we genuinely never thought would happen. “ 

“We never thought an opportunity like this would be possible for us.” 

The scheme was launched in 2019 to help first-time buyers who can afford to rent but are unable to save a deposit while paying rent. 

Tenants can rent a newly refurbished property from The Cambridge for between one and three years. When they are ready to purchase their own home, up to 70 per cent of the rent they have paid can be returned towards their deposit. 

Carole Charter, Chief Commercial Officer, at The Cambridge said: 

“We’re delighted to welcome Caitlyn and Toby as our new Rent to Home residents, and to give another family the opportunity to build towards homeownership while enjoying the security of a home they can put down roots in.  

“For many families, saving for a deposit while covering rent and everyday household costs can feel like an impossible challenge, and Rent to Home is designed to help bridge that gap by turning a proportion of the rent they pay into a future deposit. It’s exciting to see the beginning of their journey as they take meaningful steps towards owning a home of their own.” 

The initiative has already made a significant difference to people across the region. Ten previous Rent to Home tenants have gone on to purchase their own homes, collectively reclaiming £169,290 to support their move onto the property ladder. 

Rent to Home is the only initiative of its kind in the UK and forms part of The Cambridge’s commitment to supporting first-time buyers and helping more people take that all-important first step onto the property ladder. 

Currently, five tenants across three Cambridge-rented properties are on track to benefit from Rent to Home, with more than £98,280 in rent projected to be returned in the coming years to help fund first-time buyers’ deposits. 

We’re also preparing to add another property to the initiative, with a home in Longstanton set to become the next Rent to Home opportunity for a first-time buyer later this year. 

Visit our Rent to Home page to find out more.