Stop wasting money on rent
Start creating wealth with every payment
01
Apply in a few minutes
Register on our website and begin your application. We'll ask about your financial situation, the area you’re looking to move to and what your ideal home is. Based on this, we'll provide you an Agreement-in-Principle which shows you your budget with Jrny.
What are the criteria for me to be eligible for Jrny?
Jrny is designed as a platform to take you from reluctant renting to full homeownership - we aim to support renters from all walks of life. The only firm criteria we have, is that you just need to be above 21 years of age, have the right to live in the U.K. and earn a minimum household income of £21,000.
02
Search for your dream home
Use conventional methods, such as Rightmove or Zoopla, to search for your dream home or choose from one of the pre-selected homes. We don’t prescribe how you should go about your search – the choice is yours! In order to qualify for Jrny, the home should match the criteria in the AIP that we provided.
What types of homes does Jrny accept?
We accept all types of properties with a few restrictions. We do not accept basement flats, new builds, or homes which require major structural or remedial works, before being habitable. Leasehold properties are accepted, however need to have at least 90 years remaining on the lease.
How does Jrny calculate a maximum budget for me to find a home?
We assess whether the monthly payments required on a given home are sustainable compared to your monthly household income.
Your budget will also depend on how much of your savings you can dedicate towards your initial 2% move-in contribution. Use our budget calculator on the home page to get an estimate.
03
Prepare to move-in
Your offer has been accepted! Let us deal with the painful conveyancing process. All you need to do is pack up your stuff and get ready to move!
At this stage, we'll also need you to sign our tenancy and option agreements.
How does Jrny determine the monthly payments?
Monthly payments are a combination of rent and Equity Contributions. Rent is determined by both looking at the rent of comparable properties in the vicinity (similar to a traditional tenancy), while your Equity Credits will always remain fixed at 1% of the initial purchase price of the home per year. For example, if we bought your home for £300,000, 1% would be £3,000. So your monthly payments would include £250 in Equity Contributions (£3,000 divided by 12 months).
Your rent will increase at the official rate of inflation (Retail Price Index), although in years where inflation is very high, we will cap the increase at 5% per year.
How long is a Jrny Plan?
Each Jrny plan is 8-years long. However, you can either convert your Equity Credits into a deposit to buy the home or cash them out any time after the 24 month mark. The Jrny plan is designed for you to earn 1% of the home value per year, so at the end of the plan you are deposit-ready with 10% Equity Credits in your Jrny Wallet.
04
Move-in to your new home
We'll ask you to make a 2% move-in contribution. This will count towards your Jrny Wallet and grow as the home increases in value. When you choose to buy the home or leave Jrny, you get the full value back.
How does the conveyancing process with Jrny?
We take care of the entire conveyancing process, together with our funding partners, All you need to do is to focus on moving in and preparing for your journey.
05
Make your payments & build wealth
Sit back and let the rent work for you. Each year you're with Jrny, you'll earn 1% in Equity Credits in your Jrny Wallet, in exchange for a fixed Equity Contribution.
By fixing your Equity Contributions, we allow you to benefit from any increases in the value of your home during your tenancy and fix the price at which you're buying your 10% deposit from day-1!
How do my Equity Credits work?
Once you move-in and make your initial contribution, you earn 2% Equity Credits in your Jrny Wallet. For each year living with Jrny you'll earn an additional 1%. The value of the Equity Credits is determined by the market value of the home. For example, if you have 5% Equity Credits in your Jrny Wallet and the home is worth £350,000, your Equity Credits are worth £17,500.
Any time after 24 months of living in your home, you can either convert your Equity Credits into a deposit to buy the home or cash them out at full value.
Am I restricted in how I can decorate my home?
Unlike renting, we want you to feel at home with Jrny. That means you can make non-structural changes (such as painting the walls) to your property and treat it as if you already own it. For major and structural changes, we require that you seek our approval first, but may cover part of the costs (if we determine that those changes increase the value of the home).
Who is responsible for maintenance?
Jrny will be responsible for any major structural and uninsurable maintenance costs - you'll be responsible for the day-to-day.
06
Buy your home
Whenever you’re ready, get in touch with us to buy your home. The price you pay is the market value of the home, determined by an independent, RICS-qualified surveyor. You can convert your Equity Credits into a deposit on the home.
If you choose not to buy it, you can cash-out your Equity Credits at full value.
How do you determine the purchase price of the home?
We don't! You'll buy the home back at whatever the prevailing market price is, confirmed by an independent, RICS-qualified surveyor. If you don't think the valuation we're offering you is right, you're free to hire another RICS-qualified surveyor at your own cost.
Can I renew my lease if I’m not ready yet?
We selectively allow extensions to our initial lease period, to support our tenants' ambitions of becoming homeowners. The renewed lease terms will be subject to mutual agreement.