How fable works:
Live in your own home while we help you build your deposit and get you mortgage-ready. You can buy the home from us whenever you’re ready or walk away and cash in your savings. Here’s how the process works...
FAQs
Applying for Fable is completely free, takes 15 minutes online, and comes with no commitment. It also won’t impact your credit score.
After applying we will then verify your application and you’ll receive your approved home budget.
You will need to be over 18 and have the right to live in the UK. We will also do an industry-standard check on you using secure and modern technology including:
Verifying your income and outgoings
Checking for fraud and bankruptcy
Reference checks with landlords and employers
We accept properties that can be occupied straight away and do not require refurbishment or renovation to meet a liveable standard. For leasehold properties, there should be at least 100 years remaining on the lease. Each property will be assessed on its individual merits by our in-house valuation team. Initially we are only operating in certain regions.
We make money in two ways. Firstly, we charge you a small amount of money each month to provide the service. Secondly, we charge our investment partners who buy the house for you.
You are responsible for wear and tear and day-to-day upkeep. Fable are responsible for everything else, for example any insurable costs such as a broken boiler or burst water pipes and all responsibilities that a normal landlord would cover, e.g gas, electricity and fire safety. You are responsible for all utility bills, council tax and contents insurance if you want it, we cover the buildings insurance and service charges if applicable.
The property is owned by our capital providers and held in a specific company just for this purpose.
Your agreement with Fable is registered with HM Land Registry, creating a binding option on the property that lets you purchase it during the term of the lease. Even in the unlikely even that Fable stops trading, your rights are protected and enforceable by law.
The rental agreement is 5 years long and the minimum rental period is 2 years. You can purchase your home at any time after the end of the second year in your home.
If you decide not to purchase your home, you can terminate our agreement at any time after the 2 year mark and receive the rental deposit money we have on your behalf.
Email us at hello@fable.home