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Yes, it is possible to buy the home you are currently renting, especially if your landlord offers you the chance to purchase it directly.
This is sometimes known as buying as a sitting tenant. Some landlords will offer what’s called “first refusal,” which means you get the option to buy before they put it on the open market.
If you’re in this situation or want to explore it, here’s what you need to know.
Why Would a Landlord Sell Directly to Their Tenant?
Recent changes in tax rules have made buy to let investments less profitable for some landlords.
Without the tax reliefs that used to be available, and with higher costs and tighter regulations, some landlords are choosing to sell.
Instead of going through an estate agent, many would rather sell to their tenant. It avoids added costs and can make the process far more straightforward.
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What Are the Benefits for the Landlord?
Selling to the tenant can help the landlord in a number of ways:
- They avoid paying estate agency fees
- They do not need to redecorate or upgrade the property
- They do not need to organise viewings with potential buyers
- They continue to receive rental income right up until the day of completion
This means less hassle, fewer delays, and a smooth transition from one stage to the next.
What Are the Benefits for You as the Tenant?
Buying a home you already live in has its own advantages. You know the property inside and out, which removes the uncertainty of moving somewhere new.
For first time buyers in particular, this can feel like a more manageable way to become a homeowner.
You may also benefit from:
- Not being part of a property chain
- Potential for a better price, since your landlord is saving money elsewhere
- Being able to make changes or upgrades to the home once it’s yours
It can be a more relaxed and confident route onto the property ladder, especially for first time buyers.
What If They Haven’t Offered It Yet?
Even if your landlord hasn’t brought it up, there’s no harm in asking. If you know they’re planning to sell, or if you’re interested in staying long term, it can be worth having the conversation.
Some landlords simply haven’t considered it, but may be open to the idea once it’s mentioned. There’s no guarantee, but it’s a discussion worth having.
What Happens Next?
If your landlord agrees to sell, the next step is arranging your mortgage. You’ll still go through the same checks and legal process as you would with any home purchase.
This means:
- Getting a mortgage agreement in principle
- Agreeing the price with your landlord
- Instructing a solicitor
- Completing your mortgage application with the final details
Just because you already live there doesn’t mean the process is automatic. Lenders will still want to assess your affordability and carry out a valuation of the property.
How We Can Help
We’ve supported many tenants buying from their landlords, and we know what lenders are looking for in these cases.
Whether you’re a first time buyer with a deposit, we’ll help you navigate the mortgage process with confidence.
Our mortgage advisors will help you work out what you can borrow, explore your options, and be on hand to make things easier from start to finish.
