Home buying help when a mortgage doesn't work
The debt-free way to buy the same type of home you can afford to rent.
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Buying with Wayhome
Due to overwhelming demand, applications to our first fund are now closed.
While we work on launching our second fund, why not take a look at our resale homes?
These are properties already owned by us - and they're available to buy now!
Join the waitlist for our second fund — or browse current resale homes below.
Browse resale homesBuy a home worth up to 10x your income
With a pre-tax annual household income of £24,000
*Based on UK average first time buyer loan to income multiple May 2021 (UK Finance).
How Gradual Homeownership works
You buy the bit you can afford today
Our funding partners pay for the rest
The house is paid for in full
So, you don't need a mortgage
You pay rent on the bit you haven't bought yet
At fair market value of the home
But, the home is yours to make your own
Nobody can ask you to leave
Buy more each month or in lump sums
The more you buy, the less rent you pay
Meet the Payne family
Before we helped The Payne family buy their dream home, they were struggling to save enough deposit...
“For anyone who has good credit, reasonable household income but not a big enough deposit, this is the perfect route to getting on the ladder...
It was important for us to own our home and have that sense of security, and we treat our staircasing payments just as we would a mortgage.”
Key benefits
Make it your own
You have the freedom to paint the walls, change the carpet or get a pet. After all, it's your home.
Stay as long as you like
It's up to you if, or when, you leave. Nobody can ask you to leave as long as you pay rent.
Fair buying costs
Normal costs like stamp duty are shared fairly. If you're starting with the minimum 5% deposit, you only pay 5% of costs like stamp duty.
Home Restrictions
No new-builds
We only show you homes that have been sold before so we can work out a fair price for them.
No fixer-uppers
We only show you homes that don't need structural work. We don't want you living in a building site.
No buy-to-lets
We want to help people looking for a home, not an investment opportunity.
Most frequently asked questions
What household income do I need to have?
You need to have a minimum household income of £24,000 before tax.
Is this like shared ownership schemes?
No. But because you part-own and part-rent your home, it’s easy to get us confused with Shared Ownership schemes. We’re actually very different. Here’s how:
Shared Ownership Wayhome Usually only new builds Older properties with established value High service fees and charge No, or low service fees and charges Difficult to buy more of (each time you need a new mortgage) Easy to buy more of (everything you pay above rent goes towards your ownership) Expensive to buy more of (each time you need a solicitor) Easy to buy more of (from as little as £50 with no fees) Difficult to sell Easy to sell and move on if you want For some people, Shared Ownership might be a better way to buy a home. We want to help people who can’t find a Shared Ownership scheme that works for them.
What are your eligibility criteria?
We need to know:
- How much money you have for a deposit (minimum £7,500)
- Your household income (minimum £24,000)
- How your household income is split if you’re buying with another applicant
- How many kids you have, if any
- Your credit score
- If you’ve been declared bankrupt
We also need to see the same kind of things you show when you rent, like landlord references and employer references.
Unfortunately, we can’t help you if you have a poor credit score, have consistently failed to pay rent or you have a recent and unsettled bankruptcy.
How much deposit do I need?
You need a 5% deposit, which should be at least £7,500.
How is Wayhome different from renting?
It’s different because, although you don’t immediately buy 100% of the home, you can treat it as your own. Paint the walls, nail up pictures and get a pet.
It’s similar to renting because you pay rent on the part you don’t yet own.