Market Harborough Building Society (MHBS) launches ‘Rent to Own’ initiative
New ‘Rent to Own’ scheme launched
MHBS has launched a new ‘Rent to Own’ initiative that will help local renters build a pathway to homeownership. Eligible tenants living in one of five newly renovated flats in the heart of Market Harborough will, when they are ready to buy their first home, receive 60% of the rent they have paid for up to three years back towards their housing deposit.
For many people across the area, saving for a deposit while paying rent remains one of the biggest barriers to buying a first home. While monthly mortgage payments can often be comparable to rent, building up a deposit can feel out of reach for those trying to take their first step onto the property ladder.
The Society developed its Rent to Own initiative in direct response to this challenge, creating a practical way for local people to work towards homeownership while continuing to rent.
Helping towards a deposit
Iain Kirkpatrick, Chief Executive of Market Harborough Building Society, said: “For many first time buyers, saving for a deposit while paying rent can feel impossible. By returning a portion of the rent towards a future house deposit, this initiative gives local people a real opportunity to take that next step.”
By investing in five high-quality flats within Welland House, its former head office, the Society is bringing a landmark building back to life while delivering a direct benefit for local people. The initiative will give aspiring local homeowners the opportunity to live at the heart of the community as they work towards a more secure future.
MHBS’s Thrive! Agenda
The initiative forms part of the Society’s wider Thrive! Agenda, which is focused on helping its customers and communities to thrive. It follows the Society’s £2.2 million investment in seven affordable homes across South Leicestershire, helping more people find a place to call home.
The transformation of Welland House extends beyond the new flats, with the Society also investing in its flagship branch. Building on the success of Newcombe House, the Society’s current head office, which welcomes thousands of visitors each year to use its free community hub, the redesigned branch will offer members a bold new banking space alongside a welcoming community hub at the heart of the town.
Alongside trusted face-to-face support and easy access to services, the refreshed branch will provide flexible space for local groups, organisations and individuals to meet, engage with the Society and connect with others.
To find out more about the Rent to Own initiative, including eligibility criteria, terms and conditions, and application details, visit mhbs.co.uk/renttoown/
You can also visit the branch to learn more about the initiative and the transformation of Welland House.
Last Minute Theatre – Oct 2026
