A Rent To Buy operator has been put under review by a regulator.
Rentplus Homes is based in Milton Keynes and buys homes built by developers under Section 106 agreements with local authorities.
It then leases them to housing associations for 20 years.
Now the Regulator of Social Housing (RSH) has placed Rentplus Homes Limited under review.
A statement says: “If RSH is investigating a landlord due to suspected serious failings, it may place them on the gradings under review list.
“This is likely to be where engagement is ongoing and RSH thinks it is appropriate to alert stakeholders to the fact that it has serious concerns about that landlord’s delivery of the standards outcomes, which it is investigating.”
On its website Rentplus says: “We help people who aspire to homeownership but who cannot raise the deposit required.
“There are no age limitations, but applicants must be in employment, in education or training, and have aspirations to buy their own home within a 5-20 year period.
“Our tenants move into the house they intend to buy, paying no deposit.
“They pay an affordable rent set by the council for a period of 5,10,15 or 20 years. This gives them time to save and build a strong credit rating.
“When tenants buy, they are gifted a sum equivalent to 10% of the value of their home by Rentplus-UK to put towards their savings. Unlike Shared Ownership, our tenants buy 100% of their home.”
