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The Latest Home Reach Availability In The North East

Posted 1 April 2022 by Keith Osborne

The Home Reach part buy-part rent scheme is available on plots at a number of developments across the North East of England...

For house-hunters across the North East who are on a modest budget, there’s a chance to ‘part buy-part rent’ a brand new home at several developments across the region 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%.

Burdon Green is located in the semi-rural community of Coxhoe, combining a well-served local community with easy access to Durham and a host of other towns and cities thanks to the A1(M) just a few minutes away. Here, the ‘Maidstone’ makes a perfect first home for young professionals and families and is one sale from £94,498 for 50% share, based on a full market value from £188,995. This would require a minimum of 5% deposit from £4,725. Off the lobby is the cloakroom and the comfortable lounge, with the kitchen/dining room at the rear with French doors to the garden. Two of the bedrooms are doubles, with an en suite to the largest. A single bedroom and a bathroom complete the second floor.

‘Kerry’‘Kerry’ house type

In Bishop Auckland, Greenfield Park benefits from being in a picturesque town with a great selection of shops and amenities combined with access to many other towns for work or leisure. There’s a selection of two-bedroom homes for sale through Home Reach here. One is the ‘Kerry’, which is on sale with a 50% share from £57,998 (full market value from £115,995) which has a kitchen/dining room, lounge, downstairs cloakroom, two double bedrooms and a bathroom. Another semi-detached house type, The ’Cork’ has a similar layout and a 50% share is pieced from £66,498, based on a full market value from £132,995.

Peerfields Village is taking shape in Darlington and offers proximity to the town’s own features as well as convenient connections to the likes of Durham, York and Newcastle-upon-Tyne, all under an hour away. The properties here are well specified with designer kitchens having bi-fiold dpors to the garden, and ‘boutique’ styled bathrooms. A great choice of first home is the ‘Dalbridge’. It’s a semi-detached property type which has a lounge leading through to the kitchen/dining room and benefitting from a cloakroom and understairs storage. Two of its three bedrooms are doubles, and there’s a bathroom completing the first floor. A 50% share of this home is from £81,498, based on a full market value from £162,995. This will require a minimum of 5% deposit from £4,075.

‘Coquet’‘Coquet’ house type

Up in Northumberland, Morpeth is a popular market town and that’s where you’ll find The Paddocks. Residents have a host of great shops, amenities and leisure facilities on the doorstep, along with a railway station with connections to London, Edinburgh, Birmingham and Bristol, among other major destinations. It’s only a short drive to the A1 too. The semi-detached ‘Coquet’ is a characterful house type with a stone and brick finish. There’s an open-plan kitchen/living/dining room, cloakroom, family bathroom, single bedroom and two double bedrooms. A 50% share is priced from £125,000 (based on the full market value from £250,000).

Also in Morpeth is Trevelyan Grange, which isn’t far from the restaurants and cafés, shops, amenities, well-regarded schools and heritage befitting a county town. The ‘Telford’ is a great bungalow type which is available ‘part buy-part rent’ here. The kitchen is at the front of this home, and the living room at the rear has French doors to the garden. Across the hallway are the two double bedrooms and a bathroom. A 50% share of this home can be purchased from £99,975, based on its full market value from £199,950. This would require a minimum of 5% deposit from £4,999.

Find out more about current developments from Home Reach in the North East of England.

 

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Featured Developments
Coxhoe, County Durham DH6
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