A new video has been released explaining the benefits of the Rent to Own scheme.

Co-Ownership Housing unveiled the footage in which a couple speak about how the scheme is helping them.

Rent to Own is an innovative, people-focused initiative to help renters get a foothold on the property ladder.

The scheme allows customers to rent the new home of their choice for a period of three years. At the end of the rental period they have the option to purchase their home either through Co-Ownership or with a traditional mortgage. Rent to Own is available to those on low incomes who are not yet in a position to buy the home but aspire to do so.

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Sid McDowell, Chair of Co-Ownership Housing, which developed the product, said: "Rent to Own is the brainchild of Co-Ownership Housing, where we have a long and successful history of working within the private housing market but with a social purpose.

"This is a new way for us to do this and we are delighted to offer an exciting product which is very distinct from our co-ownership model. It will help renters to get to where they want to be – the home owners of the future."

(CD)