Rent to Buy: Costs and Affordability

Thinking about buying a home but not ready to jump in just yet, or still saving for a deposit? That’s exactly where rent-to-buy comes in. Rent-to-buy homes are a fresh new approach for aspiring homeowners! It lets you move into your future home today, rent it for a set period, and buy it later if and when you're ready. Unlike traditional renting, it gives you time, flexibility, and control.

Let’s break down everything you need to know about the costs, fees, and affordability of rent-to-buy homes - so you can plan your next step with confidence.

How much is the rent on Rent-to-Buy homes?

The rent you’ll pay for a Keyzy home is typically around 5% of the property's value per year. For example, if your future home is worth £550,000, your rent would be approximately £27,500 per year - or about £2,291.67 per month.

Your exact monthly rent may vary depending on:

• The location
• The size and type of property
• The current market value at the time of agreement

Remember, unlike traditional rent, a portion of this rent is helping you move closer to ownership.

Do I need to pay any upfront fees to start?

To get started, there’s a one-time fixed product fee.

But here’s the good news:

• £0 deposit required
• No hidden extra costs

Everything is shared clearly with you before signing, so you’ll never feel caught off guard.

Are there any hidden fees?

No. Keyzy is built on transparency, and all fees are clearly stated up front. Aside from your standard rent payment, there are no hidden or surprise fees with the rent-to-buy model.

What is converted rent?

With Keyzy’s rent-to-buy homes, you’ll rent the home with a fixed monthly rent for 2 or 3 years - no unexpected increases. That means total stability while you prepare to buy. Converted rent is the portion of your monthly rent that is applied toward decreasing your future buyback price. Up to 100% of each rent payment is converted, meaning it goes straight towards your deposit, helping you build equity faster.

What is the future buyback price?

The future buyback price (the amount you’ll pay to purchase the home at the end of the rental period) is agreed upon up front. This ensures you know exactly how much the property will cost when you’re ready to buy, providing price certainty and avoiding any unwelcome surprises down the line. The property price is dependent on the location and size of the property.

What happens if I decide not to purchase?

We understand that plans can change. That’s why Keyzy’s rent-to-buy model offers flexibility:

• At the end of your 2 or 3-year rental period, you can choose not to buy, subject to your agreement.
• In this case, you can walk away without any obligation to purchase. However, the property will be treated like a standard rental - meaning you won’t receive any of your rent payments back
• You can also decide to sell the home on the open market. If the sale price exceeds your buyback price, you can pocket the difference, minus any rent paid and transaction costs (like agent and legal fees).

Example Scenario:

• Future buyback price: £500,000
• Total rent paid over 2 years: £50,000
• You sell the home on the market for £500,000

You’d receive £50,000 back, minus any associated selling costs. If you sell it for more, your return is even greater.

Who is responsible for maintenance and repair costs?

You’ll typically be responsible for minor, day-to-day upkeep, while Keyzy will handle larger structural or significant repairs until you’ve purchased the home. Specific responsibilities are detailed in your agreement.

Where should I start?

Ready to look for Rent to Buy properties available near you? Visit the Keyzy properties page here to explore rent-to-buy homes now available.

Learn more about how rent-to-buy works and whether you’re eligible.