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Home Reach Opportunities In Lincolnshire

Posted 14 January 2022 by Keith Osborne

The Home Reach part buy-part rent scheme is available on brand new homes at some sites in Lincolnshire...

For house-hunters in Lincolnshire on a modest budget, there’s a chance to ‘part buy-part rent’ brand new homes at two developments in the county thanks to Home Reach.

For buyers who meet the eligibility criteria, Home Reach is an opportunity to purchase a share of a new build home (usually starting at 50%) 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%.

Tudor Reach is in Kirton in Lindsey is a market town in north Lincolnshire. With some good local amenities, it’s also just a few miles south of Scunthorpe and north-east of Gainsborough. One of the house types currently available through Home Reach is the three-bedroom ‘Nettleham’ house type. Off the hallway at the front of the property is the fitted kitchen with plentiful worktop and storage. At the rear is the living/dining room with French doors to the garden. The ground floor also has a WC, and a useful cupboard under the stairs. Two of the bedrooms are doubles, one of them having an en suite and built-in wardrobe. There’s also a family bathroom. The home is priced at £84,975, based on 50% share of a full market value of £169,950, and would require a minimum 5% deposit of £4,249.

An alternative at Tudor Reach is the ‘Bennington’. This terrace house has a living/dining room with French doors to the rear garden, a separate kitchen, utility space and downstairs WC. Upstairs are two double bedrooms (one with en suite and built-in wardrobe) and single bedroom-cum-office, and a family bathroom. A 50% share is priced from £86,750 (based on a full market value of £173,500), which will require a minimum 5% deposit from £4,338.

‘Winthorpe’‘Winthorpe’ house type

Pinchbeck Fields is a development situated two miles from Spalding . When completed, it will have a diverse mix of homes with two to five bedrooms, attracting everyone from first-time buyers to growing families and downsizers. A central focus of this development is an attractive open space with pond and outside leisure and recreational areas.

The ‘Winthorpe’ is available through Home Reach. This is a three-bedroom semi-detached house type. The living room is at the front of the property and it leads through to the kitchen/dining room with breakfast bar and French doors to the rear garden. Off this room is the downstairs WC. There are two double bedrooms, one with en suite ad bult-in wardrobe, and the third single bedroom could be used for a host of other purposes. The first floor is completed by the family bathroom. Prices start at £109,998 for a 50% share (full market value from £219,995), which would require a minimum 5% deposit of from £5,500.

Spalding offers a great range of shops, cafés, restaurants and pubs and hosts weekly markets and farmers’ markets. It has many other assets too, from heritage buildings and museums to an arts and cinema centre and Springfields, a retail park with conference/events space and festivals gardens. For families, there are nurseries, primary schools and secondary schools all within easy reach of Pinchbeck Fields, with the Spalding campus of Boston College providing further education.

There are good transport links to the nearby towns of King’s Lynn, Boston, Market Deeping and Sleaford. The rail station in Spalding connects the town via regular trains to the cities of Peterborough and Lincoln, as well as locations further afield.

Find out more about Home Reach developments across the East Midlands.

 

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Featured Developments
Kirton Lindsey, Lincolnshire DN21
£175,000 - £200,000
Tudor Reach
Kirton Lindsey, Lincolnshire DN21
3 bedroom properties
Allison Homes
Spalding, Lincolnshire PE11
Price on application
Pinchbeck Fields
Spalding, Lincolnshire PE11
Contact for more details
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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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