Affordability check for rent to buy

[Hereford91]

I'm a little confused we are interested in a rent to buy house from a housing association and was wondering what the affordability check would consist of? My credit score isn't the best but we know we can afford the property and can prove our rent for the last 3 years has been paid? Any help or advise?

Watching with interest. I'm considering this too.

Ultimately, you will need to get a mortgage. The mortgage lender will determine whether you can afford it, and pricing you have paid rent is irrelevant. It is based on incomings, outgoings, credit score, if you can still afford it if interest rates soar and whether you can afford the upkeep of a home.

Do you mean part buy part rent? I wouldn't bother with that in all honesty. They're not as good as you think

Do you mean shared ownership? I think you'll need to speak to a mortgage broker.

It will vary depending on the housing provider. Last time I was looking at a rent to buy scheme they wanted to see that you could afford the rent and to save towards a deposit to use at the end of the 5 years. They didn't say what they thought would be needed to afford it though!