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Home Reach Opportunities In The North West

Posted 7 February 2022 by Keith Osborne

The Home Reach part buy-part rent scheme is available on brand new homes at developments across the North West...

For house-hunters across the North West of England on a modest budget, there’s a chance to ‘part buy-part rent’ brand new homes at two developments in 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%.

Waterside Gardens is set in the heart of Wigan’s iconic Pier Quarter and offers an opportunity to experience canalside living. There’s an eye-catching, energy-efficient contemporary three-bedroom townhouse here where buyers can start with a 50% for £127,500 (full market value £255,000 and requiring a minimum 5% deposit of £6,375). A door from the entrance hall leads into the large open-plan kitchen/living/dining room, which has French doors to the self-enclosed garden. There’s also a downstairs WC. There are two double bedrooms on the first floor (one with en suite) as well as the family bathroom, and there’s another en suite double room on the top floor, along with a private terrace which overlooks the waterfront.

‘Croston’‘Croston’ house type

In Broughton, just north of Preston, The Avenues has a collection of houses type that would make excellent starter homes, set on wide, tree-lined streets and with some new public green spaces. The ‘Downham’ is a two-bedroom house with living room at the front, kitchen/dining room to the garden at the rear, downstairs WC, understairs storage and a bathroom. This is priced £105,000 for a 50% share (full market value £210,000, minimum 5% deposit £5,250). Alternatively, the ‘Croston’ has a similar layout but there are three bedrooms. This is prices at £117,500 for a 50% share (full market price £235,000, requiring a minimum 5% deposit of £5,875).

Cat I’ Th’ Window is the characterful name of a development situated on the periphery of Standish town centre, which is well served by independent shops, amenities, restaurants and pubs, and around 15 minutes’ drive to Wigan. Here, the ‘Oakmere’ is a two-bedroom apartment with open-plan kitchen living room and a bathroom. A 50% share starts from £59,975, based on a full market value from £119,950, which requires a minimum of 5% deposit from £2,999.

The same apartment type is available at another development, Cedar Place, which is in the charming semi-rural village of Barton, within easy driving distance of Garstang, Broughton and Bilsborrow. There are some excellent local amenities, including Ofsted-rated ‘Outstanding’ schools. Here, the ‘Oakmere’ starts at £62,475, with a full market value from £124,950, requiring a minimum 5% deposit from £3,124.

‘Ribbleton Special’‘Ribbleton Special’ house type

Illustrating the variety of property types offered by Home Reach, Alston Grange has bungalows available through the scheme. This development is located in Longridge, amongst the rolling fields of the Ribble Valley but within easy reach of Preston. One of the homes currently for sale is called the ‘Ribbleton Special’ which is priced from £93,998 for a 50% share (full market value from £187,995, requiring a minimum of 5% deposit from £4,700). This has a fitted kitchen, separate living/dining room with French doors to the garden, a double master bedroom, single bedroom two, and bathroom.

There are several apartments for sale at Highgrove Park, a development in the well-served market town of Ormskirk, with easy access to the likes of Southport, Wigan and Liverpool. A one-bedroom apartment here is priced from £74,975 for a 50% share, based on a full market value from £149,950 and requiring a minimum of 5% deposit from £3,749. This has an open-plan kitchen/living/dining room, two useful storage cupboards off the hallway and comes with an allocated parking space. If you require more room, then the two-bedroom ‘Croston’ might be ideal, with open-plan kitchen/living room, off-hallway storage, family bathroom and two double bedrooms, one with en suite. This also comes with allocated parking and a 50% share starts from £84,975 (full market value from £169,950), which would require a minimum of 5% deposit from £4,241.

Find out more about current Home Reach properties available across the North West of England.

 

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Featured Developments
Wigan, Greater Manchester WN3
Price on application
Waterside Gardens
Wigan, Greater Manchester WN3 
Contact for more details
Home Reach
Preston, Lancashire PR3
£107,500 - £122,500 (from 50% share)
The Avenues
Preston, Lancashire PR3 
2 - 3 bedroom properties
Home Reach
Standish, Greater Manchester WN6
Price on application
Cat I' Th' Window
Standish, Greater Manchester WN6 
Contact for more details
Home Reach
Barton, Lancashire PR3
Price on application
Cedar Place
Barton, Lancashire PR3 
Contact for more details
Home Reach
Longridge, Lancashire PR3
Price on application
Alston Grange
Longridge, Lancashire PR3 
Contact for more details
Home Reach
Ormskirk, Lancashire L40
£64,998 (from 50% share)
Highgrove Park
Ormskirk, Lancashire L40 
1 bedroom properties
Home Reach
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  • Waterside Gardens
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  • Cat I' Th' Window
  • Cedar Place
  • Alston Grange
  • 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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