Latest ‘Rent to Home’ winners 'forever grateful for opportunity to become homeowners’

“It’s amazing to be able to dream again” say the latest winners of our life-changing Rent to Home initiative which has helped two more renters on their way towards homeownership.

The O’Leary family and Thomas Martin will move into the two semi-detached properties in Woolpit near Bury St Edmunds next week after they were selected at random in our ballot. After renting the properties for up to three years, we'll return up to 70% of their rent to be used as a deposit towards their own home. 

Launched in 2019, Rent to Home has helped three tenants buy their own home with 11 tenants now on their way to homeownership through the trailblazing initiative which is designed to help more people have a home. 

Karina O’Leary, who will move into one of the Woolpit homes with her husband Paul and their daughter, said:

“We had given up on the idea of living in a home we could call our own. When we found out we’d been selected in the ballot, I couldn’t quite believe it - Paul took the call, and I only heard one side of the conversation, so it didn’t seem real at first.

“It’s amazing to be able to dream again. Homeownership no longer feels like a wish-list item - it’s something we can achieve. I’m forever grateful for this opportunity and just wish more families could experience the same.”

Thomas Martin, who will live next door to the O’Leary family, said:

“It’s an amazing feeling to be selected. Like many others, I’ve found it tough to save enough for a deposit, even though I’ve always dreamed of owning my own home. Rent to Home is giving me a chance I didn’t think I’d get, and I’m incredibly grateful to The Cambridge for making it possible.”

As part of our 175th-anniversary celebrations, we expanded our Rent To Home initiative with the addition of the two homes in Woolpit – taking our Rent To Home portfolio up to seven properties, reinforcing our long-standing commitment to supporting renters on their journey to homeownership.

Carole Charter, Chief Commercial Officer at The Cambridge, said:

“We’re looking forward to welcoming our latest tenants and supporting them on their path to buying their first home. We know that saving for a deposit can be a major barrier for renters and we have seen how Rent To Home has transformed the lives of our tenants who went through the process and now own their own home.

“It’s an exciting time for The Cambridge as we celebrate 175 years of helping people have a home with the expansion of Rent to Home. We see it as our responsibility - as a community-driven organisation - to make that first step on the housing ladder more accessible.”

Applicants to the initiative opened in January, with each applicant who met the criteria assigned a numbered ball which was selected at random by Carole from a replica of the box the society used 175 years ago to determine who would be loaned the money they required to buy a home. 

The ballot winners underwent affordability checks before signing their tenancy agreements and will move in from next week. For more information about Rent to Home, read more here.