East Homes are pleased to announce the first customers, to benefit from their ‘Rent Now, Buy Later scheme.

Keyworkers, Alex Ferraby and his wife Corianne , initially looked into various subsidised housing options, in an effort to get on the housing ladder. Keen to buy a home, but anxious about the uncertainty of the market - a friend recommended that they contact East Homes to find out about the New Build HomeBuy, part-buy, part-rent scheme.

On contacting East Homes, they also learned about ‘Rent Now, Buy Later’ - an innovative ‘try before you buy’ option, which allows first time buyers to rent a brand new home at 20% less than private rent, with the opportunity to buy a share in the property within three years.

“The beauty of Rent Now, Buy Later, is that it provides the best of both worlds. We can enjoy the flexibility of renting, with the option of buying later – if we choose” said Alex.

Both teachers, Alex and Corianne found living in a privately rented apartment block in Bow expensive. Now as East Homes’ tenants, they pay a monthly rent of £958 a month, on a two bedroom, two-bathroom apartment at the East Homes, East One development in Stepney. Alex said: “Our new flat is more spacious and costs slightly less overall. East One seems more community minded, as there’s a mix of people and facilities. It’s a nice location, as it’s right next to the canal and more secure – with underground parking”.

Rent Now, Buy Later is a quick and easy process. “It took about two to three weeks from when we first viewed our apartment, until we moved in – it was very slick! Anita – Sales Consultant for East One, was very helpful and professional. We genuinely felt that she wanted to cover all basis, not like private renting where they just throw the keys at you”.

Centrally located in Stepney, East One offers excellent transport links. Alex cycles via the Greenway, to his place of work in Beckton and Corianne takes the tube, to get her connections to Romford, where she teaches.

“Corianne and I find comfort in knowing we have the future possibility of buying through New Build HomeBuy at a later date. Renting is nice and flexible and ‘Rent Now, Buy Later’ has genuinely given us a foot in the door for the future”.

From - East Homes