How it's similar

It’s similar to renting because you pay rent on the part you haven't yet bought.

How it's different

Although you don’t immediately buy 100% of the home, it's your home. Paint the walls, nail up pictures and get a pet. 🏡

Another big difference is that with Wayhome you only pay rent on the part of the home you do not own. As you buy more your rent subsequently decreases over time. This means if the home would typically rent for £1,000 a month, and you own 5%, you’ll only pay £950 (95%).

Unlike renting, you have the security of homeownership and cannot be asked to leave. Selling the home is entirely up to you as long as you're paying rent and not breaching the contract.

Lots of our existing homeowners used us because they could buy the home they actually wanted much sooner than they could have done with a mortgage. In most of their cases, they bought what they could afford upfront, and gradually increase their ownership when they can, at their own pace.

It's why we take your affordability very seriously to ensure you can afford to buy more of your home as you go. Our goal is for you to eventually be able to buy out the funding partners either with cash, or a mortgage.

And lastly, your rent will only go up at the rate of inflation set by the government once a year. We think this is fairer than setting rents like private landlords can do where they can charge rent at whatever rate they want.

To summarise: