What happens if I can't make my payments?

OwnHome's Hardship policy will help you chart a way out of difficulty.

OwnHome has a dedicated Hardship Policy for this exact scenario. Our goal is to ensure that all our customers end up as homeowners, but we understand that sometimes circumstances change. Importantly, you have a lot of options.

  1. You can walk away from the home, and find a new rental, with no impact to your credit score whatsoever. You would typically forfeit your security deposit contributions up to that point. 
  2. You can activate OwnHome’s hardship process, and we’ll follow a clearly laid out path. In short, we assess your financial circumstances to understand what has changed, and how we can help you chart a path out of your situation. If you are only unable to pay rent temporarily, then there are options such as extending your option agreement, or reducing your rate of security deposit contributions for a period of time.

If you have any additional questions, please get in touch with us and we can help.