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Opportunities To Part Buy-Part Rent Brand New Homes In Shropshire

Posted 21 June 2022 by Keith Osborne

Home Reach offers some affordable, brand new part buy-part rent homes for sale at developments across Shropshire...

For first-time house-hunters Shropshire who have only a modest budget, there’s a chance to ‘part buy-part rent’ brand new homes at a number developments there.

Buyers who meet the eligibility criteria for 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%.

Fletcher's Rise is a development in Wombourne, around five miles from the centre of Wolverhampton. Currently for sale under Home Reach is a bungalow called the ‘Elm’, which is priced 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.

The ’Ellerton’ house typeThe ’Ellerton’ house type

On the outskirts of the popular town of Telford, is Castle Gardens. There’s a range of two- and three-bedroom homes being built here which could be a perfect choice for different types of buyer and budget. The charming village of Doseley, is conveniently located for the M54 to Birmingham and Wolverhampton. The ’Ellerton’ is an attractive semi-detached property: off the hallway is the lounge and the front of the house and it is past the cloakrooms and a useful understairs storage cupboard to the kitchen/dining room, which in turn leads to the garden. Upstairs, two of the bedrooms are doubles (one with en suite), while the third is a single. A family bathroom completes the layout. A 50% share starts at £142,000 (full market value from £284,000), which will require a minimum of 5% deposit from £7,100.

Just a couple of miles away is Rose Meadows in Lawley Village. The three-bedroom homes will suite young families and there’s a primary school on the doorstep. A supermarket and pub are also within walking distance and it’s just a quick drive to the town centre or M54. Buyers will only need a deposit from £6,950 to be able to snap up the ‘Maidstone’ through part buy-part rent. Priced at £139,000 for a 50% share (based on a full market value from £278,000), this popular house type has a kitchen/dining room with French doors to the garden, a separate lounge, downstairs cloakroom, two double bedrooms, a single bedroom and a bathroom. Bedroom one comes with an en suite shower room.

Find out about current Home Reach developments across the West Midlands region.

 

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Featured Developments
Wombourne, Shropshire WV5
£187,500 (from 50% share)
Fletcher's Rise
Wombourne, Shropshire WV5 
2 bedroom properties
Home Reach
Telford, Shropshire TF4
£119,000 - £145,000 (from 50% share)
Castle Gardens
Telford, Shropshire TF4 
3 bedroom properties
Home Reach
Telford, Shropshire TF3
£146,000 (from 50% share)
Rose Meadows
Telford, Shropshire TF3 
3 bedroom properties
Home Reach
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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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