Success for latest Rent to Home applicant
16 December 2020 • Community • Products & Services
The Cambridge is delighted to announce that its latest Rent to Home applicant has now moved into their new home, marking a milestone under the Society’s Making The Difference banner.
Following the successful launch of its Rent to Home initiative in 2019, applications for this year’s one of kind idea opened in October. William Vandepeer was picked at random through a ballot adjudicated by Janet Reid, Company Secretary and Head of Compliance.
Rent to Home has been designed to make a difference by supporting first time buyers who are able to afford to rent, but due to the higher cost of living in the region are unable to save enough for a deposit.
Through this initiative, William has secured our recently renovated Cottenham-based property to live in for a maximum of three years. During this term The Cambridge will give back 70% of the money paid towards rent, which will be used as a deposit on a new home, with a mortgage from The Cambridge.
William described how important the initiative is for him, "I was looking for a property for my first home when I happened to come across a great looking flat. When I discovered it was being offered as a part of The Cambridge’s Rent to Home initiative I was delighted. As a first time buyer living with my parents and trying to buy my first home, Rent to Home sounded perfect for me - so I applied! Being able to live in a lovely home and then having the Cambridge Building Society supporting me down the line with a deposit when I want to buy my long term home is an incredible opportunity”.
Peter Burrows, Chief Executive of The Cambridge called William to confirm his success and added, “We are passionate about supporting first time buyers and Rent to Home is our unique way of pushing the boundaries for what is possible. As a member owned Society, helping people own their own homes maintains its place at the heart of everything we do, and has done for more than 170 years. We take pride in our continued development of solutions that are truly Making The Difference in our local community for people like William, and we’re excited to see how his home buying journey progresses in the coming years”.