Developer Artisan acts as a landlord during the scheme and sets aside each month’s rent payment. At the end of the tenancy period, this accumulated amount can then be used as the deposit if the renter decides to purchase the property. Alternatively, if they choose not to buy, the money is retained by the developer as payment for the rental period.
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00:00 Estate agency Knight Frank has launched a new scheme to support Bristol's first-time
00:08 buyers struggling to get on the property ladder. Try Before You Buy allows prospective buyers
00:15 to rent a property at their Everards Printworks development in Bristol's Old City Centre
00:21 before committing to the purchase. Developers Artisan acts as a landlord during the scheme
00:28 and sets aside each month's rent payment. At the end of the tenancy period, this accumulated
00:35 amount can be used as the deposit if the renter decides to purchase the property. Alternatively,
00:42 if they choose not to buy, the money is retained by the developer as payment for the rental
00:47 period. With many Bristolians struggling to get on the property ladder, the idea is it
00:54 will help those who cannot afford a deposit while renting.