Market Harborough Building Society launches Rent to Own initiative to support aspiring homeowners

09 October 2026

Specialist lender Market Harborough Building Society has launched a new Rent to Own initiative that will help renters build a pathway to homeownership. Eligible tenants living in one of five newly renovated flats in the heart of Market Harborough will, when they are ready to buy their first home, receive 60% of the rent they have paid for up to three years back towards their housing deposit.

For many people, saving for a deposit while paying rent remains one of the biggest barriers to buying a first home. While monthly mortgage payments can often be comparable to rent, building up a deposit can feel out of reach for those trying to take their first step onto the property ladder.

The Society developed its Rent to Own initiative in direct response to this challenge, creating a practical way for people in its heartland to work towards homeownership while continuing to rent.

Iain Kirkpatrick, Chief Executive of Market Harborough Building Society, said

"For many first-time buyers, saving for a deposit while paying rent can feel impossible. By returning a portion of the rent towards a future house deposit, this initiative gives people a real opportunity to take that next step."

By investing in five high-quality flats within Welland House, its former head office, the Society is creating new opportunities for aspiring homeowners while delivering a direct social impact. The initiative will give aspiring local homeowners the opportunity to live at the heart of the community as they work towards a more secure future.

The initiative forms part of Market Harborough’s wider Thrive! Agenda, and reflects the Society’s purpose-led approach which focuses on helping its customers and communities to thrive. Through this programme, the Society invests in initiatives designed to improve financial wellbeing, increase access to housing and create a positive impact beyond its core financial services.

It follows the Society's £2.2 million investment in seven affordable homes across South Leicestershire, helping more people find a place to call home.

The transformation of Welland House extends beyond the new flats, with the Society also investing in its flagship branch. Building on the success of Newcombe House, the Society's current head office and community hub, the redesigned branch will offer members a modern banking space alongside a welcoming hub designed to bring people together and support local organisations.

To find out more about the Rent to Own initiative, including eligibility criteria, terms and conditions, and application details, visit the Society's website mhbs.co.uk/renttoown/.