We can only help you buy homes with a current Energy Performance Certificate (EPC), rating of C or higher.

An EPC is a review of a property’s energy efficiency. The higher the EPC rating the lower your energy bills will be.

Due to the environmental impact of low energy-efficient homes, lenders may consider EPC ratings when making lending decisions. While Wayhome doesn’t require a mortgage initially, you may need financing if you decide to fully purchase the home later. If the property has a low EPC rating and limited potential for improvement, it could be harder to secure financing or sell the property.

Homes are rated from A (most efficient) to G (least efficient) and they're valid for 10 years.

When you're looking at homes on sites like Rightmove or Zoopla, you can usually find the EPC rating, but if you don’t see it on the listing then ask the agent before you book a viewing.

Currently we're only able to help you buy Freehold or Share of Freehold homes.

Knowing a property's tenure helps you understand its legal ownership setup and any potential costs or obligations that come with it.

You should be able to find information about tenure type on the listings page.

What we can buy:

Freehold:

Through Freehold, you own the property and the land it's on. Typically, you're responsible for property maintenance and have flexibility to make changes.

Share of Freehold:

This is where multiple properties within the same building, like flats or maisonettes, share freehold ownership. This means you’ll share responsibility for maintaining the building while still enjoying the same flexibility to make changes as with a standard freehold.

What we can’t buy:

Leasehold:

With leasehold, you’re essentially buying the right to live in a property for a set period, but the freeholder still owns the land it’s on. This usually means you’ll need to pay ground rent and service charges as part of the deal.

Shared Ownership:

This is a type of leasehold which involves purchasing a portion of the property and paying rent on the remaining share. You might have the option to buy the remaining share later, but selling the property might require permission.

Click here to learn more about how Wayhome is different to Shared Ownership.

What is non-standard construction:

Non-standard construction homes are built with materials like timber frames or concrete, instead of the usual brick or stone, and often have roofs made from something other than slate or tile. Examples include timber-framed houses, concrete homes, or barn conversions.

Why don’t we buy non-standard construction:

Although buying with Wayhome doesn't require a mortgage upfront, you might need financing if you decide to purchase the home fully in the future. Non-standard homes can be harder to insure and mortgage due to limited demand and the potential for higher maintenance costs. This can also make selling the home tricky, as your buyer pool may be restricted to cash buyers.

How to check for non-standard construction:

To make sure the home you like doesn’t have non-standard construction, check the listing for any mention of:

If there’s no mention of non-standard construction in the listing, but the home is priced much lower than similar properties in the area (given its condition), it's a good idea to contact the agent and ask about non-standard construction before arranging a viewing.

If the home you’re interested in is ex-social housing, we won’t be able to help you buy it. These properties tend to have a lower resale value compared to privately-owned homes, which could impact your return on investment if you choose to sell later on.

If the home you’re considering is a brand new build, we won’t be able to help you buy it.

For our funding partners, the homes we invest in need to be low-risk. New builds are riskier because they:

If the home you’re looking at is a basement flat or located above a commercial property, we won’t be able to help you buy it.

While buying with Wayhome doesn't require a mortgage, you may need financing if you choose to buy the home outright later on. Lenders typically hesitate to finance these types of properties because of the associated risks, which can narrow your options for both buyers and lenders.

Homes above commercial properties
These properties can be harder to sell due to concerns like noise, smells, changes in shop ownership, or the fire risk from business activities below.

Basement flats
Basement flats come with challenges like less natural light, ventilation, damp issues, subsidence, and a higher risk of flooding, making them harder to finance or sell later.

If the home you’re looking at is a listed building, we won’t be able to help you buy it.

While buying with Wayhome doesn't require a mortgage, securing financing for the remaining amount may becomes necessary if you opt to fully purchase the home from the funding partners. Getting insurance and mortgages for listed homes can be a bit tricky. This is because lenders often see them as higher risk due to potential maintenance costs and the restrictions on changes you can make.

You can usually tell if a home is listed by looking for terms like “Grade II listed” in the property listing description.

If the home you’re looking at is listed for auction, we won’t be able to help you buy it.

Homes at auction are sold “sight unseen”. This means we’re not able to do a property survey before we buy it to make sure there are no underlying issues.

Take note of the price of the home, if it seems too good to be true, it might be listed for auction. If that’s the case, you’ll usually find a note about it in the property listing description, often at the bottom of the page.

Avoid located near busy main roads, motorways, and railway lines. These areas tend to have high levels of noise pollution, making the properties less appealing and harder to sell in the future.

You can use this tool to check if the home is a safe distance from them:

Large venues and businesses can also cause noise pollution. Generally, the home you buy should be in a residential area (surrounded by other homes).

Search for the postcode of the home you’d like to buy on Google Maps, using the distances listed below as a guide to check if the home is far enough away from noise polluters.

Living in homes located in flood-prone areas, particularly those near the sea or rivers, can pose safety risks. Additionally, securing insurance and mortgages for homes in flood plains can be challenging as lenders may perceive them as higher risk.

If the home you’re looking at is near to a river or the sea, you might want to check the home’s long term flood risk. Ask the agent for the full postcode of the home so you check it.

You can check the home for flood risk by using the Government’s Flood Risk Checker

If the home is listed as low-risk in the Rivers and the sea section, you can book a viewing.

Please note, this doesn't guarantee Wayhome can move forward with this home. We’ll review the home for potential flood risk in much more detail once an offer has been accepted.

When looking at homes outside of the Wayhome site, on platforms like Zoopla and Rightmove, it’s always a good idea to check whether the market rent meets our funding partner's minimum requirement of 5%.

Rent is set according to local market values, ensuring it aligns with similar homes in the area. However, to ensure the home is a sound investment for the funding partners, the minimum annual rent must always be at least 5% of the initial purchase price.

Here’s how to check this:

This process ensures that the home is a viable investment for our funding partners while keeping the rent fair and competitive according to the local market for you.

You’ll pay for any service charges for the home you buy with us. If these costs are too high, it will affect your ability to buy more of your home (and the last thing we want to do is put anyone in financial difficulty).

To find out if the home you like has a service charge check the home’s listing and ask the Estate Agent.

Service Charge

We can only help you buy a home with a monthly service charge that is less than 0.05% of the home’s asking price.

Estate Fees

Estate fees can occur when the developer is responsible for the management and maintenance of roads, verges, and surface water drainage in recently built homes, even if they are freehold properties.

As with service charge, monthly estate fees must be less than 0.05% of the home’s asking price.

For example, if the home’s asking price is £300,000, then the service charge would need to be less than £150 per month to meet our criteria (0.05% x £300,000).

Important! Not all homes will have service charges or estate fees. If the home you like has neither of these and meets the other criteria, it’s good to go!

Although it’s up to you how you decorate the home, you should be able to move in straight away without needing to carry out any major improvement work.

When selecting homes to view, make sure you check the photos in the listing carefully.

Look at each of the pictures in the listing. What’s the overall condition of the home like? Does it look like it needs any significant repairs or updates?

Can you see any major signs of damage or neglect? Examples of obvious issues include:

Red flags often suggest that Wayhome won’t be able to help buy this home. If you notice any issue that looks like a red flag, it’s best to keep looking for another property.

Still Unsure? Check the Description:

"Property in Need of Modernisation": This often indicates that a property that hasn’t been well maintained. Chipped paint and stained carpets can suggest broader neglect, like issues with the boiler or damp. It’s probably not worth viewing this property.

Yellow flags probably won’t prevent Wayhome from moving forward with a property but they will be your responsibility to fix and maintain at your own expense.

Wear and Tear:

Look at the pictures on the listing carefully. Can you spot any obvious signs of wear and tear? Wear and tear is the natural degradation that happens to a home over time and includes things like:

Responsibility: Remember, you’ll need to fix and maintain these issues, even if they're pre-existing. Ask yourself if you’re prepared to cover the cost of fixing or replacing these items.

Cosmetic Changes:

Consider any cosmetic updates that you may want to make to the home to make it yours, such as:

Cost Implications: These changes can add to your costs, so include them in your decision-making process and budget.

If you don’t spot any red flags but you’re still unsure whether a home is suitable for you, it’s best to book a viewing.

Identifying a great home is straightforward, but distinguishing between red flags and normal wear and tear can be a bit tricky. Below, we’ve included some images to help you identify what to look out for.

These are examples only and not an exhaustive list.