LoginSubscribe to Alerts

Home Reach Available On The Isle Of Wight

Posted 23 June 2022 by Keith Osborne

One of the brand new houses at St George's Gate in Newport is available to part buy-part rent through Home Reach...

While the Isle of Wight’s would-be buyers on a modest budget might be struggling to save the money and get the mortgage to own a property outright, there’s an opportunity to use the Home Reach scheme on a development there that might suit them.

Buyers who meet the eligibility criteria for Home Reach have an opportunity to purchase a share of a new build home (usually, but not always, between 50% and 75%) and pay a subsidised rent on the remainder, with housing provider heylo as the landlord. The scheme is offered on selected plots at developments across England and provides all the benefits of homeownership but requires a much smaller deposit (5% of the share price) and a smaller mortgage than when purchasing outright. Over time, owners can buy further shares as their budget allows, until they own 100%.

Home Reach has partnered with Barratt Homes to offer a house on the St George’s Gate development in Newport on a part buy-part rent’ basis. The housebuilder is delivering a range of two- and three-bedroom properties for outright sale at a location surrounded by rolling fields and country walks. It also has the benefit of being close to local schools, shops, and within walking distance of bustling Newport town centre. There are excellent transport links around the scenic island and it is only a few miles from home to Cowes, Fishbourne and Ryde for ferry and hovercraft links to the mainland.

The Home Reach property is called the ‘Brandon’ and a 50% share can be purchased from £119,957 (full market value £239,900). heylo calculates that a household income of £30,080 will be enough to qualify. It’s a compact three-bedroom home with a lounge at the front leading to an open-plan kitchen/dining room at the rear featuring French doors that open to the garden. On the first floor you'll find the spacious main double bedroom, two single bedrooms and a stylish family bathroom. This home comes with private parking.

Find out more at St George’s Gate.

 

Find retirement homes on the Isle of Wight
Find Help to Buy homes on the Isle of Wight
Find new homes on the Isle of Wight

 

Featured Developments
Newport, Isle of Wight PO30
£218,000 - £220,000
St George's Gate
Newport, Isle of Wight PO30
2 bedroom properties
Barratt Homes
Save time and contact all housebuilders at once
Select the developments you're interested in and we will do the rest.
  • St George's Gate
By clicking "Request Details" I accept the Terms and Conditions and Privacy Policy and I am happy to receive more information about the above or other developments similar from WhatHouse? Digital or these developers. I understand that consent isn't a condition of purchase for any product or service and that I can opt out at any time.
The housebuilder will use these details to contact you about this property/development to arrange a viewing or provide you with more information.
The ‘Thornton’ house type at Hayfield Walk
30 June 2022
Help to Buy is available on selected two- and three-bedroom homes at two current developments in Buckinghamshire...Read more
Riverstone Kensington (Riverstone)
30 June 2022
Riverstone, a provider of exceptional London living for the over-65s, has opened its first residence in Kensington…Read more
Deva Green (Anwyl Homes)
30 June 2022
For house-hunters looking for a new home in Chester, there are a wide range of house styles and plots available at Anwyl Homes’ Deva Green develo...Read more
The ‘Elm’ at Fletcher's Rise (Home Reach)
21 June 2022
Home Reach offers some affordable, brand new part buy-part rent homes for sale at developments across Shropshire...Read more
The ‘Bilberry’ at Newchurch Meadows (Home Reach)
10 June 2022
We look at the latest part buy-part rent Home Reach opportunities at developments across Lancashire...Read more
Partridge Walk (Bovis Homes)
25 May 2022
The first homes on a new site in Stafford have been released for sale by developer the Vistry Group...Read more
Sign up for email alertsGet the latest properties and updates sent directly to your inbox daily, weekly or immediately you are in control.
Subscribe to Alerts
A Guide To Part Buy Part Rent
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.

Click here to see your activities