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Home Reach Available On New Homes In Kent

Posted 27 September 2022 by Keith Osborne

Home Reach is a scheme that provides an affordable route to a brand new home at developments in Kent...

House-hunters in Kent looking to take a first step on the homeownership ladder with only a modest budget will be delighted to know that the popular Home Reach scheme, which allows them to ‘part buy-part rent’ a high-quality brand new home, is currently available at developments in the county

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%.

Folkestone is a popular town, well-served by shops, amenities, leisure facilities and transport links around the UK and abroad, including the M20, High Speed rail and the Channel Tunnel. Being on the coast and the southern fringes of the North Downs AONB means it offers a whole range of places to go and relax too. Greenside View is situated on a tree lined avenue and is within walking distance of numerous local amenities including excellent boys’ and girls’ schools (such as the ‘Outstanding’ Ofsted-rated The Harvey Grammar School, and ‘Good’ Morehall Primary School and Nursery), sports centre and playing fields and two stations, with High Speed services taking around 65 minutes to London St Pancras.

Here, the ‘Poulter’ is a lovely semi-detached house available through Home Reach. With three good-sized bedrooms (one with en suite) and a family bathroom upstairs, it has an open-plan kitchen/dining area with French doors leading out onto the patio of the rear garden, a separate living area and a downstairs WC to the downstairs. Prices start at £205,000 for a 50% share (full market value from £410,000) which would require a minimum deposit from £10,250.

The ‘Woodcroft’The ‘Woodcroft’ house type

In Minster on Sea, Belgrave Place is another development little more than an hour’s commute to London. Close to Sheerness, which offers a good choice of shops and services, it’s around 15 minutes to Sittingbourne and around half-an-hour to the likes of Maidstone and the Medway Towns. The beach and a nature reserve are easy to access, as are the numerous resorts along the north Kent coastline.

The development will be bringing a whole range of two-, three- and four-bedroom homes to the area but right now there are a couple of two-bedroom starter homes which can be acquired on a part buy-part rent basis. Both priced from £142,500 for a 50% share (full market value from £285,000), and requiring a minimum 5% deposit from £7,125, one is the ‘Lawton’, which has a kitchen/dining room to the front leading past a storage cupboard and WC to the lounge, which in tur leads out to the garden. Both the double rooms upstairs share the bathroom. The ‘Woodcroft’ house type is a similar size and with the same upstairs layout, but downstairs, the lounge is at the front and the kitchen/dining room to the rear.

Find out more abut current Home Reach new homes for sale around the South East of England.

 

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Blue Town, Kent ME12
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Belgrave Place
Blue Town, Kent ME12
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Home Reach
Folkestone, Kent CT19
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Greenside View
Folkestone, Kent CT19
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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.

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