Yes. Your rent can go down when you buy more of your home. But, it depends on inflation - which dictates your rent increases - and how much of your home you buy.
Example:
Home value | Rent | Inflation | Amount you need to top-up to keep your rent the same |
£350,000 | £1,000 | 3% | £10,500 (3% of £350,000) |
Your rent goes down if you top-up more than the rate of inflation.
Example:
Home value | Rent | Inflation | You top-up | You beat inflation by | New rent after 2% (£20) decrease |
£350,000 | £1,000 | 3% | 5% | 2% | £980 (£1,000 - £20) |