Home Reach in North East England
New Homes from Home Reach starting from £92,500
From £112,998 (50% share)
Ryhope, Tyne and Wear SR2
Cherry Tree Park (Barratt) - heylo shared ownership
This development is now available on heylo shared ownership.
Hartlepool, County Durham TS26
Elwick Gardens - heylo shared ownership
This development is now available on heylo shared ownership.
From £107,995 (50% share)
Darlington, County Durham DL2
The Orchard at West Park David Wilson
The Orchard at West Park offers a luxury collection of 3-bedroom homes situated in an exclusive area of West Park, Darlington.
From £108,995 (50% share)
Ryhope, Tyne and Wear SR2
Cherry Tree Park (Barratt)
Set in the coastal village of Ryhope, Cherry Tree Park is an exciting new development of stylish 3-bedroom homes, perfect for first time buyers and growing families alike.
From £125,000 (50% share)
Hartlepool, County Durham TS26
Elwick Gardens
Located within the sought after area of Elwick, this beautiful new development features a range of 3-bedroom family homes, perfect for growing families or first time buyers.
From £142,495 (50% share)
New Hartley, Northumberland NE25
Church Fields
Located in the semi-rural village of New Hartley, Church Fields is a stunning new development of 3-bedroom homes, perfect for first time buyers, home movers and growing families alike.
From £109,998 (50% share)
New Hartley, Northumberland NE25
Church Fields - heylo shared ownership
This development is now available on heylo shared ownership.
From £103,995 (50% share)
Coxhoe, County Durham DH6
Burdon Green
Burdon Green is a new development which offers the best of both worlds, located in the semi-rural community of Coxhoe yet perfectly positioned to the South East of Durham city centre.
From £110,000 (50% share)
Hebburn, Tyne and Wear NE31
Bedewell Court
Welcome to Bedewell Court, Hebburn - an NHBC award winning development, 3 years running.
From £101,995 (50% share)
Pegswood, Northumberland NE61
Blossom Park
A semi-rural development surrounded by beautiful countryside, offering you great walks and scenic nature trails to explore.
From £124,995 (50% share)
Darlington, County Durham DL2
The Orchard at West Park
The Orchard at West Park is a new development in an exclusive area of Darlington.
Cornsay Colliery, County Durham DH7
The Bridleways - Dere Street Homes
The Bridleways, Langley Park is the latest development from Durham based housebuilder, Dere Street Homes.
Home Reach is about making home ownership possible.
Working with housebuilders across England to offer Home Reach, a part buy – part rent option on new build properties.
With Home Reach you buy a share of your chosen newly built home and pay a monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home.
You are able to purchase your share in either cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, you will need to allow for a minimum of 5% deposit. The larger your deposit (typically 10%) the lower your mortgage repayments are likely to be.
To start with, you can purchase up to 75% of your chosen home and heylo will become your landlord granting you a 125-year lease. This means you will be able to live in the home as if you’ve bought it outright.
On the share you do not purchase, you will pay rent of 2.75% of the unsold value, this will be paid monthly via direct debit. You can purchase more shares in the future until you own the whole property and stop paying rent altogether.
Starting shares, vary across developments. For more information on the shares available, the sales representatives at the development you would like to buy at will be able to guide you.
Security
Part buy - part rent provides the security of home ownership. Home Reach can help you open the door to a house you can permanently call home.
Renting can be a convenient option for those looking to keep their options open. Choosing to rent can allow you to move around more frequently. However, it opens you up to rental price hikes, unscrupulous landlords and short-notice evictions.
Part buy – part rent can provide you with long-term security, as when you purchase a Home Reach property, you are granted a 125-year lease by heylo housing. This gives you the ability to make concrete plans for the future, from raising a family to redecorating your home, or perhaps turning that spare bedroom into a home office for your flourishing business.
Affordable
Deposits for Home Reach properties can be significantly lower than those for equivalent properties purchased via a traditional mortgage. This is because part buy - part rent deposits are determined by the share of the property you buy, not the value of the property you wish to live in.
If you were to choose a £200,000 new-build property, you’d pay a deposit based on the share you choose. If you choose a 50 per cent share of a property, you would need to pay a minimum five per cent deposit. This would cost you £5,000, but with a traditional mortgage, you’d have to pay double that. This makes part buy – part rent a much more affordable way to get on the property ladder for those with limited savings.
Part buy – part rent opens up not only affordable rent payments but affordable deposits, too. Find out how part buy – part rent works and check out some examples of how little rent you could pay with a Home Reach property.
Freedom
Home Reach gives you the freedom for home improvements. Rented properties often restrict your ability to make improvements, making it feel like you’re never really settled—but with Home Reach properties, you can decorate and even transform existing spaces in a way that reflects your own tastes, truly making your house a home. What’s more, home improvements can add significant value to your property’s asking price.
We know how important pets can be in our lives, which is why we allow them in our properties. However, we always ask you to seek permission as some managing agents/leases have individual pet policy’s which can restrict these – so it is always good to check beforehand.