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Home Reach Opportunities In The North West

Posted 15 December 2021 by Keith Osborne

A range of homes across the South West region are available via the Home Reach ‘part buy-part rent’ scheme...

For house-hunters who are searching for a first home to move into early next year in the North West of England, there are opportunities to do so at developments across the region which offer new build properties for sale through the Home Reach scheme.

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%.

Here are some examples of homes in the North West now for sale through Home Reach.

Highgrove Park is just over a mile from the centre of Ormskirk, the market town which offers a host of shops, amenities and entertainment, and within easy reach of the likes of Southport, Liverpool and Manchester. It’s a development aimed at a whole range of homebuyers, offering homes of different designs with from one to five bedrooms. With Home Reach, the ‘Latham’ is a one-bedroom apartment with open-plan kitchen/living/dining room, generous bedroom, bathroom, and storage off the hallway. A 50% share is from £74,975 (full market value from £149,950). For those with a larger budget, the ‘Croston’ has a triple-aspect fitted kitchen/dining/living room, two double bedrooms (one with en suite) and family bathroom and useful storage. Prices start at £84,975 for a 50% share (based on a full market value from £169,950) requiring a minimum of 5% deposit from
£4,241.

Waterside Gardens sits within the heart of Wigan’s iconic Pier Quarter. It comprises eight contemporary three-bedroom townhouses including roof terraces, canalside back gardens and allocated allotment spaces. Plot 3 qualifies for ‘part buy-part rent’: on the ground floor is the spacious, open-plan kitchen/dining/living room, a WC and a utility space; one the first floor are two double bedrooms (one with en suite shower room) and the family bathroom; and on the top floor is bedroom one, with en suite, built-in storage and a door to the private roof terrace. A 50% share is from £127,500 (based on a full market value of £255,000, which will require a minimum of 5% deposit from £6,375.

Taylor’s GreenTaylor’s Green

To the south of Blackburn in Darwen, Taylor’s Green is well-located for the market town’s great facilities and some lovely countryside, but easily commutable to a host of larger towns and cities. An ideal property for young families wihich is available via Home Reach is the ‘Orford’, which is a three-bedroom detached house with integral garage. At the front of the home is a lounge, and at the rear, with French doors to the garden, is the kitchen/dining off which is a utility room and the downstairs WC. There’s a generous master bedroom with en suite, another double bedroom, a single bedroom and the family bathroom. A 50% share is from £124,998, based on a full market value from £249,995, which will require a minimum of 5% deposit from £6,250.

The Wharf is a collection of 44 apartments in Altrincham, a popular and highly regarded town which combines its own charm, history and assets with proximity to Manchester city centre. This development demonstrates that a three-bedroom starter home is not exclusive to houses, with a spacious apartment available through Home Reach. Two of the three bedrooms are doubles, with the bonus of an en suite to bedroom one, and the third is a single room that could serve a multitude of different functions, such as home office. The generous kitche/living/dining room has large glazed access to a private balcony. This exceptional home can be purchased from £199,975 for a 50% share (based on a full market value from £399,950), which will require a minimum of 5% deposit from £9,999.

In Preston, The Avenues also features a variety of home types set on wide, tree-lined streets and with open green spaces. The ‘Downham’ makes a great first home. The kitchen/dining room has access to the private rear garden, and there’s a separate living room at the front. Downstairs in completed by understiars storage and a WC. Upstairs are two bedrooms (one with built-in storage) and a family bathroom. Prices start at £105,000 for a 50% share (full market value £210,000), which would require a minimum of 5% deposit from £5,250.

Find out more about all current Home Reach developments across the North West of England.

 

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Featured Developments
Ormskirk, Lancashire L40
£11,998 - £64,975 (from 50% share)
Highgrove Park
Ormskirk, Lancashire L40 
1 - 3 bedroom properties
Home Reach
Wigan, Greater Manchester WN3
£127,500 (from 50% share)
Waterside Gardens
Wigan, Greater Manchester WN3 
3 bedroom properties
Home Reach
Altrincham, Greater Manchester WA14
£172,475 (from 50% share)
The Wharf
Altrincham, Greater Manchester WA14
2 bedroom properties
Home Reach
Preston, Lancashire PR3
£107,500 - £122,500 (from 50% share)
The Avenues
Preston, Lancashire PR3 
2 - 3 bedroom properties
Home Reach
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  • Highgrove Park
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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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