A housing company is looking for £700m of institutional
investment to build 5,000 homes across England for tenants to buy without
saving for a deposit. RentPlus, a new Plymouth-based firm, plans to build the
swathe of new housing over five years across the south-west, Cambridgeshire and
East Anglia. The homes will initially be let at sub-market rent, with tenants
eventually able to purchase their properties. Under the model, housing
associations lease the homes from RentPlus and offer a series of five-year
renewable tenancies of up to 20 years, with tenants given the option to buy
their home at the end of each five-year period. Read more on Inside Housing.
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