Home Reach Offers Across The West Midlands

For house-hunters in the West Midlands on a modest budget, there’s a chance to ‘part buy-part rent’ brand new homes at a number developments in the county, thanks to Home Reach, with some limited-time offers on selected plots.

Buyers who meet the eligibility criteria, Home Reach have 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%.

When you reserve a property at these developments before 28 February 2022 you will receive flooring and £1,000 towards your legal fees on selected plots (subject to terms and conditions).

‘Holly’ house type

The Pavilions is under a mile from Kenilworth town centre, located next to the cricket club. A 40% share of the ‘Holly’ is priced from £150,400, based on a full market value from £376,000. At the front of the house is a comfortable sitting room and at the rear, the kitchen/dining room with French doors to the garden. Also downstairs are a cloak room and some handy storage under the stairs. On the first floor are two bedrooms (one with en suite) and a family bathroom.

Also in Warwickshire is Crown Hill Gardens with three-bedroom homes from the latest phase of this development in Radford Semele, just a mile from Leamington Spa, available on a ‘part buy-part-rent’ basis. The ‘Spruce’ is a house with considerable architectural character. It has a triple-aspect sitting room, a kitchen/dining room, utility room, downstairs cloakroom, two double bedrooms (one with en suite and dressing area) and a single bedroom. It is price from £215,000 for a 50% share (full market value from £430,000). Alternatively, the ‘Larch’ is in a more contemporary design and has kitchen/dining room with bifold doors to the garden, a separate sitting room, a cloakroom, dedicated study, and the main bedroom comes en suite and dressing area. Prices start at £182,400 for a 40% share (full market value from £456,000).

Berrington Place is within walking distance of Birmingham city centre and could offer a perfect first home with a range of one-bedroom apartments. The ‘Type P’ has an open-plan kitchen/dining/living space and double bedroom and has a specification including a Symphony fitted kitchen with a range of integrated appliances, flooring included throughout and contemporary white sanitaryware to the bathroom. A 40% share of this home is £75,200 (based on a full market value of £188,000) and would require a minimum of 5% deposit from £3,760.

The ‘Elm’

Fletcher's Rise is in Wombourne, around five miles from the centre of Wolverhampton, and is currently offering two- and three-bedroom homes on a part buy-part rent basis. One is a bungalow called the ‘Elm’ at £145,438 for a 40% share (full market value £363,595) which has an open-plan kitchen/dining/living room, downstairs cloakroom, two double bedrooms and bathroom. This will require a minimum of 5% deposit of £7,272. There’s also the ‘Ebony’, which has a kitchen/dining area with French doors to the garden, a separate sitting room, two double bedrooms, a single bedroom, a family bathroom and large storage cupboard off the hallway. It can be purchased with a share of 40% at £164,000 (full market value £410,000).

Furrowfields is an attractive development in Bishops Itchington, a village with its own range of shops and amenities, within easy reach of some major towns and cities, being only two miles from Junction 12 of the M40. Among the variety of Home Reach properties here is the ‘Walton’, a rare property type ideal for first-time buyers and downsizers – this bungalow has a kitchen/dining room, lounge, study, bathroom and double bedroom. A 40% share starts from £108,800, based on a full market value from £272,000. The two-storey ‘Cypress’ has a sitting room at the front, kitchen/dining room with utility room at the rear, understairs storage and cloakroom off the hallway, en suite main bedroom, two more bedrooms and a bathroom. This would require a minimum of 5% deposit from £10,250 for a 50% share of £204,998, based on its full market value from £409,995)
 

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