Affordable rent-to-buy is “proving popular” with young working people in Whitehill & Bordon who dream of owning a home but cannot raise a deposit, according to the Winchester Housing Trust.

Just a few two-bedroom flats are left of the original 73 ‘Rentplus’ affordable rent-to-buy homes on Taylor Wimpey’s Dukes Quarter site off Budds Lane.

Rentplus is a no deposit, affordable rent-to-buy route to home ownership for those unable to save for a deposit, or use shared ownership or Help to Buy. Many tenants are key workers.

Residents move into a new home without paying a deposit and pay affordable rent for the duration of their lease, which will run for between five and 20 years, giving them time to clear any debts and save a deposit.

After five years – and at other fixed points during their lease – residents can buy the property, and Rentplus will give them 10 per cent of the cost towards their deposit.

The Whitehill & Bordon project was the start of a partnership between Rentplus and the Winchester Housing Trust, which manages the homes for Rentplus. Other partners are East Hampshire District Council and Taylor Wimpey.

Trust chief executive Andrew Simpson said: “This development is proving popular and we have just a few properties left.

“Raising a deposit has become the biggest barrier to home ownership. Even a five per cent deposit is beyond the realms of possibility for those people in society we have come to rely on – our NHS workers, our teachers, our emergency service personnel.

“Unless they have access to the bank of mum and dad, if they are renting privately they are unlikely to be able to scrape together the £15,000-£30,000 demanded by high street lenders.

“Moving into a brand new home without paying a deposit, paying affordable rent for five years plus, is a real opportunity to save, build a good credit rating and begin to engage with the community.

“Being gifted 10 per cent of the sale price towards the deposit when they’re ready to buy is an added benefit and incentive.”

Applicants should be registered on the Hampshire Home Choice scheme, and in full-time employment or full-time education and training. For more information visit https://www.winchesterhousing

trust.co.uk/rentplus/