Affordable housing provider Metropolitan Thames Valley Housing (MTVH) has ventured into the rent to buy sector for the first time, with the launch of its dedicated ‘SO Flexi’ brand, operating as an offshoot of MTVH’s existing shared ownership arm, SO Resi. The very first scheme, SO Flexi Slough, will launch in August 2023, offering a selection of 55 one and two-bedroom apartments, all available to purchase with rent to buy.

All brand-new apartments at SO Flexi Slough will be available to rent on a two-year fixed contract, with monthly rent capped at 80% below local market values and prices starting at £880 per month for a one-bedroom apartment. Tenants will be encouraged to use the savings from the discounted rent in order to save up a 5% deposit, in order to purchase the property using shared ownership at the end of the rental term. The scheme is available to first time buyers who cannot otherwise afford to get onto the property ladder, and is capped at a household income of £80,000.

Designed around a private residential courtyard with eco-friendly planting and landscaping, each apartment comes with its own balcony or terrace as standard. Internally, all properties come complete with integrated Siemens or Bosch appliances, and are each carefully designed to maximise spaciousness and natural light – selected homes have been designed to meet the needs of wheelchair users too. All homes also benefit from gated undercroft parking with the option of electric charging points.

Kevin Sims, Director of Sales at SO Resi, comments: “The beauty of SO Flexi is that it tackles two obstacles with a single brush stroke, offering homes for rent at an affordable value, while mapping out a route to homeownership. Very often, the first hurdle for first time buyers is building up a deposit, which is why SO Flexi offers residents the flexibility to pay into savings alongside their rent. New residents can live and save in high-quality brand-new housing without the stress, insecurity and financial strain that private renting often brings, knowing that they have been given the tools to afford to purchase their home.

“The last year has proven to be particularly challenging for first time buyers, with high competition for rental homes, inflated house prices, the cost of living crisis and, more recently, mortgage products hitting 6% for a two year fix. When the odds are stacked so highly against the next generation of first time buyers, SO Flexi offers a chance to ride out the political storm, build up some savings, and purchase their home when the time is right for them.”

SO Flexi Slough forms part of the wider Imperial Central development located on Mill Street in the heart of Slough. The new homes are just a five minute walk from the town centre and train station, while Windsor Castle is just under four miles away, and Liverpool Street is less than 39 minutes away by train.

Currently available at SO Flexi Slough is a collection of one and two-bedroom apartments, available for just £880 per month. To find out more, visit www.soresi.co.uk/soflexi or call 020 8607 0550.