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Kettel Homes has launched a £150m single-family rent-to-own strategy, focussed on homes across the Midlands, Yorkshire and the North West.
The investment manager is set to purchase two, three and four-bed single-family rental homes in these areas over the next 18 months through its Kettel Investment Management arm, with an ambition of supporting households with annual household incomes of £35-75K to get on the housing ladder.
In contrast to shared ownership strategies, the structure of the rent-to-own option requires that all homes either be sold to first-time buyers or be moved unencumbered into a clear open market single-family rental portfolio within 5 years of purchase. Tenants can stay beyond the initial rent-to-own period if they wish to remain as a renter long-term.
The homes set to be
link source - The Business Desk