Part Buy-Part Rent Opportunity In Ipswich
While the full market price of a new home in Ipswich might needs far too much deposit and too big a mortgage for many people’s budget, the Home Reach scheme is something that could help make a dream come true.
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%.
Henley Gate is a popular new development, part of the first phase of new houses for sale being brought to the northern fringe of the town. The new community will offer attractive landscapes and focus on the garden city principles, with tree-lined streets, country parks, a primary school, local centre and green open space.
‘The Redgrave’ is a thoughtfully designed home which features a spacious kitchen/dining area, a separate living room with French doors to the garden, some ample built-in storage and a WC downstairs. Upstairs are two double bedrooms (one with en suite), a generous single room and a family bathroom. A 50% share of this property type starts at £165,000 (full market value from £330,000), which would require a minimum 5% deposit from £8,250.
‘The Dromer’ is quite a different type of property. With its own garage, it is set over a drive-through and comprises an open-plan kitchen/diner/living area, two double bedrooms (one with an en suite shower room), a second double bedroom, and a family bathroom, all complemented by some useful built-in storage. The is priced from £117,500 for a 50% share (full market value from £235,000), which will require a minimum 5% deposit from £5,875
Find out more about current Home Reach developments across the East of England.
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