Home Reach Launches This Month

The Home Reach scheme, offering a first step on the property ladder through a combination of buying and renting a brand new home, has just been launched at developments across England.

Home Reach is a partnership between housing provider heylo and a number of housebuilders across England which gives buyers who meet the eligibility criteria the opportunity to ‘part buy-part rent’ a brand new home. You can purchase a share of a new build home (usually starting at 50%) and pay a subsidised rent on the remainder, with heylo as the landlord. The scheme is offered on selected plots at a development 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%.

In Paulton, Somerset, Bovis Homes is building High View, with architectural design reflecting the traditional regional and a thoroughly modern interior layout and specification. The village setting offers proximity to countryside but for those needing town and city access, the likes of Bath, Bristol and Frome are an easy drive away. Buyers can consider one of the units in the Somer Apartments block here. They offer a dual-aspect kitchen/dining/living room, main double bedroom with en suite, a smaller second bedroom and a bathroom, with a useful storage cupboard off the hallway. Through Home Reach, a 50% share is priced from £100,975, based on a full market value of £201,950. This will require a minimum of 5% deposit from £5,049.

For house-hunters in Kent, Barratt Homes’ Aylesham Village development might be an ideal choice. This also offers the benefits of semi-rural living with proximity to major urban locations, with the A2 providing direct connections to Dover and Canterbury (and further on to the Medway Towns and into south-east London). Folkestone is also only 20 minutes or so away. Home Reach is available on a range of apartments here. A one-bedroom home comes with open-plan kitchen/living/ding room, double bedroom and bathroom and a 50% share is priced from £82,498 (full market value £164,995), requiring a minimum of 5% deposit from £4,125. For more space, £92,498 buys a 50% share of an apartment with one double bedroom, a second single bedroom or home office, a dual-aspect fitted kitchen/living/dining room and a family bathroom. The home has a full market value of £184,995 and will need a minimum 5% deposit of £4,625.

‘Bell’ house type at Cat I’ Th’ Window

Cat I’ Th’ Window is the characterful name of a Wainhomes development in Wigan, where Home Reach has just been introduced. Positioned on the periphery of Standish town centre which is well served by independent shops, amenities , restaurants and pubs, it’s around 15 minutes’ drive to Wigan and the nearby M6 provides convenient journeys to the likes of Preston and Warrington. A variety of two-bedroom homes here are for sale through Home Reach. There are apartments but also houses, including the ‘Bell’. This comes with a kitcher/diner, a separate lounge, a downstairs WC, understairs storage, a family bathroom and two double bedrooms. This starts at £78,975 for a 50% share (based on full market value from £157,950), which will require a minimum of 5% deposit from £3,949.

In Northumberland, Home Reach is now available at The Paddocks, a Northumberland Estates development located halfway between Morpeth and Alnwick and about 30 miles from Newcastle. Each home here has either a garage or driveway for private parking and has a generous garden, with some plot boundaries are marked out by the centuries-old existing hedgerows. An ideal home for young families here can be purchased via Home Reach. The ‘Coquet’ is a three-bedroom semi-detached house type priced from £125,000 for a 50% share (full market value from £250,000, and with a minimum of 5% deposit from £6,250). Downstairs are a living room leading to a kitchen/dining room, off which is a utility room and WC. Two of the bedrooms are generous doubles with built-in storage, the third is a single room and the layout is completed by a family bathroom and off-landing storage.

Find out more about home across England available with Home Reach.