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Alok Sharma visits innovative Rent to Buy development

Monday, 29 January 2018

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Andy Woolley, Market Rent Project Manager, Ralph Facey, Director of Housing and Customer Services, Alok Sharma, MP for Reading West, and Miranda Foster, Home Ownership Manager

A new development of affordable homes in Reading, which offers an innovative rent-to-buy model to aspiring home owners, was visited by local MP, Alok Sharma.

The Member of Parliament for Reading West, and Minister for Employment, was visiting Kennet Island to see Linnet House; a flagship development of 35 affordable homes provided by award-winning housing provider Radian.

The development provides 27 homes for rent through Radian’s letting service, SMART., with these properties already occupied by over 40 new tenants. The homes are available with Radian’s innovative rent-to-buy scheme, which offers monthly rent costs at approximately 20% less than open market values, giving tenants the flexibility of renting privately whilst saving towards a deposit to buy a home in the future.

A further eight homes on the development were sold to customers through the Shared Ownership scheme, which enables first time buyers to get onto the property ladder by purchasing a share of their new home, often with a deposit of just 5% of their share.

During his visit, Mr Sharma met with Joanne, a SMART. tenant, who talked to him about living at Kennet Island and the opportunities Radian has provided to her and her family through the rent-to-buy scheme.

Ralph Facey, Radian’s Director of Housing and Customer Services, accompanied Mr Sharma on his visit. He said:

“It was a privilege to welcome Mr Sharma to Linnet House, which has really taken shape with residents now living here. I’m delighted that through the various schemes Radian offers, our customers are able to live in a quality home that meets their needs and take their first steps onto the property ladder. We look forward to providing more opportunities like these here at Kennet Island for new customers, as Radian is committed to delivering affordable homes of all tenures to help solve the UK’s housing crisis.”

abdccsRalph Facey with SMART. resident Joanne and Alok Sharma, MP for Reading West