Newhall rent-to-buy scheme proves a winner

Newhall has done it again - well-renowned for being at the cutting edge of the residential housing world, with its ultra contemporary ideas, plans and properties, the imaginative Harlow developer took the initiative before Christmas, at a tricky time for house buyers, and created an innovative Rent to Buy Scheme at its North Chase development.  The results have been phenomenal.

According to Matthew Byatt, Head of Sales and Marketing for North Chase at Newhall, the highly unusual and bespoke deals they offered with the Rent to Buy package, turned the tables on conventional property selling and were grabbed with open arms. 

“We have all seen the advertisements: Why rent when you can buy?” he says.  “It is the logical solution for many, but some people are not in a financial position to buy right away, and some may just not be sure that they want to buy. We decided to devise a scheme which not only saved money, but provided the opportunity to ‘test drive’ the new home before one committed to buying it.  It was such a success that all the properties offered in the scheme were snapped up within weeks of its launch.”

Under the deal, anyone who is now renting one of the stunning new houses or apartments at North Chase, also received a package of incentives which will help them buy it at a later date if they so wish. For example, if they rent for a year and then buy, the whole year’s rent will be deducted from the purchase price of the property. If they rent for two years, Newhall will deduct 75% of the total rent.

“That’s a significant saving in itself, but there’s more,” continues Matthew Byatt.  “The house or apartment will be offered at the price it was advertised for, when you began your rental agreement. If prices start to rise again, that could mean something of a bargain. North Chase will also pay £500 towards survey costs and £500 towards legal costs, as well as introducing you to their approved mortgage consultant who may be able to obtain a favourable mortgage deal, as mortgages on ‘second hand’ homes are often more affordable than those on brand new.

“The package is designed to make the transition from renting to buying as straightforward and hassle free as possible.”

This has also proved to be an excellent way to get to know Newhall and the lifestyle enjoyed by its residents. Newhall, the concept of Harlow landowners Jon and William Moen, was conceived from the outset as a revolutionary residential development where the very best in contemporary architecture would be complemented by ample green space and a true sense of community. As it grows, so this ethos grows along with it, and many residents enthuse about the community spirit, friendliness of neighbours and feeling of freedom they experience there.
                                                                                                                  
For more information about buying at North Chase, visit northchase.co.uk.