The Cambridge Society launches Rent to Home scheme for two properties in Woolpit, near Bury St Edmunds, as part of 175-year celebrations

A building society has launched a scheme for its 175th anniversary where customers can receive up to 70 per cent of their rent back.

The Cambridge Building Society, which has a branch in Bury St Edmunds town centre, has pledged to donate £175,000 annually from its profits to good causes and expand its Rent to Home initiative.

Two properties in Woolpit are part of the initiative, which allows people renting from The Cambridge to have up to 70 per cent of their rent returned to use as a deposit towards buying their own home.

Applications for the scheme are now open. Click here to apply.

Winners will need to rent from the firm for up to three years before enjoying the discount.

Peter Burrows, chief executive, said: “When the founding members established a building society in Cambridge 175 years ago, they were passionate about creating an organisation that enabled people to save and ultimately to have their own home.

“Fast-forward to today and that passion to offer our customers a competitive range of products supported by outstanding customer service still burns bright.

“The Society is in great health, and we plan to continue to grow and to invest even more into homes and housing causes in our local community.”

The Cambridge team donated nearly 1000 volunteering hours to help local charities last year and has handed out more than £160,000 to good causes since 2020.