Buying your home

Start with a minimum 5%, buy more over time.

Start with just a 5% deposit

You can start with a deposit between 5% and 30% of the home’s value.

We currently buy homes between £150,000 - £500,000.

Manageable upfront buying costs

All property purchases incur additional upfront buying costs like Stamp Duty, surveys and legal fees.

While we can’t get rid of these costs, we can make them feel more manageable by sharing them proportionally with you to help you get started.

So, if you start with a 5% deposit, you only pay 5% of the costs upfront.

Over time you’ll reimburse us*, but only when you’re ready to increase your ownership.

Part buy, part rent

You own the part you’ve paid for, and rent the part we’ve paid for.

As long as you pay rent each month you can have the safety and security of a home you can call your own.

Gradually buy more and rent less

When you buy more of your home it’s called staircasing.

Whether you increase your ownership is completely up to you. You can buy more on a regular basis or in lump sums. And if things are tight, no worries - there’s no obligation.

You can buy more of your home from as little as £50 and there are no additional admin fees or hidden charges. Every time you buy more you’ll also reimburse the proportionate share of the buying costs.

How we set rents

Annual rent will always be at least 5% of the purchase price to ensure it's a sound investment. For instance, a £300k home would need a minimum rent of £1250 per month(5% of £300k divided by 12).

However, to maintain fairness to you, we set the rent according to the local market rental value, ensuring it aligns it with the rental rates for similar homes in the area.

Remember, you only pay rent for the portion of the home you don’t own.

Important: In some areas market rents are lower than5%. This can make it harder for us to buy in these locations. We don’t think it’s fair to charge you more than market rent.

No unexpected rent hikes

Your rent increases annually, by the rate of inflation (RPI).

If you feel your rent is no longer in line with market rates, you can ask us to review it once every 5 years.

How does Wayhome help me own my home outright?

Typically our customers can’t get a mortgage to buy the home they want without needing a much larger deposit or a higher income. Instead they’re forced to make compromises like buying a smaller home, or moving further away where prices are cheaper.

Until now. With Wayhome you could buy the home you want and need now with just a 5% deposit.

You can then gradually increase your equity in yourhome as you live in it, up to a maximum of 40%.

This equity that you build up while living in the home is yours. If you decide to fully purchase the home from us, you'll need finance for the remaining amount. But here's the great part: thanks to the equity you've built, getting that mortgage should be much easier than it was when you first started your journey with us as you now have that bigger deposit.

Early Buyout Periods

Your home with have an Early Buyout Period of either 5 or 10 years.

If you buy us out within that timeframe, you’ll need to reimburse us for the outstanding upfront buying costs like Stamp Duty and legal fees.

If you buy us out after that timeframe, we waive the outstanding costs.

Selling your home

You can choose to sell your home at any time, regardless of the Early Buyout Period.

We share most of the selling costs, like estate agent fees. Some costs however, like the property valuation, we request you to cover in full since you're initiating the sale.

When the property sells, we split the proceeds according to ownership at that time. So, if you then own 25% of the home, you’ll get 25% of the proceeds after costs.

Ready to become a homeowner?

*'we' 'us' and 'our' refer to Wayhome and/or their funding partners.