Cambridge Building Society opens applications for Rent to Home scheme
The Cambridge Building Society has opened applications for its Rent to Home initiative, allowing tenants to reclaim up to 70% of rent paid to use as a house deposit.
The Cambridge Building Society has opened applications for its Rent to Home initiative, a scheme designed to help first-time buyers turn rent payments into a deposit for their first property.
The programme allows tenants to reclaim up to 70% of the rent they pay during their tenancy to use towards a deposit when purchasing a home. The scheme, launched in 2019, has so far returned £132,750 in rent to tenants who have gone on to buy their first property.
Three properties are currently available through the initiative, including a family home in Northstowe and two self-contained flats in Great Shelford. Successful applicants will be able to rent the properties for between one and three years, with a proportion of the rent returned if they are ready to purchase their own home.
Carole Charter, chief commercial officer at The Cambridge Building Society, said: “Rent to Home has transformed the lives of people who previously thought they had no way of fulfilling their dream of getting on the housing ladder and putting down roots in our community.
“Research shows that many aspiring first-time buyers believe homeownership is out of reach, yet for most the real challenge isn’t affordability month to month but saving for a deposit alongside paying rent.
“By returning a significant proportion of rent, Rent to Home has helped people reclaim tens of thousands of pounds and turned renting into a genuine pathway towards buying their first home.
“We would encourage anyone who feels they may never own a home to look at what previous Rent to Home tenants have achieved and apply – homeownership is closer than you think.”
The two-bedroom Northstowe property will be let at a market rent of £1,400 per month, allowing tenants to reclaim up to £35,280 at the end of the tenancy. The two Great Shelford flats will be rented at £1,350 per month, with tenants able to reclaim around £34,020.
Applications close on 17th April and a ballot will take place on 29th April to select tenants. Successful applicants will have up to three months following the ballot to move into the properties.
The building society said all previous Rent to Home tenants have received a lump sum at the end of their tenancy and gone on to purchase a property. In 2025 alone, five tenants reclaimed a combined £75,285 to support their move onto the property ladder.
Abigail Smith, property manager at Cheffins’ Cambridge office, said: “We are delighted to be continuing our partnership with The Cambridge on the Rent to Home initiative. This forward-thinking scheme has already helped a number of first-time buyers across the region take their first step onto the property ladder, offering a practical solution for so many of those who are finding it challenging to save for a deposit in the current climate.
“It has been particularly rewarding to see eight tenants successfully purchase their homes at the end of the scheme, benefiting not only from a clear pathway to ownership but also from high-quality, newly refurbished properties during their tenancy.”
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