Home Reach Awarded For Commitment To Armed Forces Personnel

Housing provider heylo, founder of the Home Reach part buy-part rent homebuyer assistance scheme, has received a Silver Award from the Defence Employer Recognition Scheme as a result of its commitment to helping Armed Forces personnel to get on the property ladder, as well as promote jobs for service leavers and veterans with its organisation.

Home Reach is a partnership between heylo housing group and a growing number of housebuilders across England. It is open to would-be buyers who meet the eligibility criteria and is a way of purchasing a share of a new build home (usually starting at 50%) and paying a subsidised rent on the remainder, with heylo as the landlord. This provides all the benefits of homeownership but requires a much smaller deposit and mortgage than purchasing outright. Owners can buy further shares as their budget allows, until they own 100%.

heylo has appointed British Army veteran Major Ian Weatherley as armed services liaison manager to act as a focal point and champion the Forces community’s needs. There is also greater flexibility and increased paid leave for Reservists and Cadet Force Adult volunteers working at heylo and active engagement with the forces’ Career Transition Partnership to promote roles at heylo for Service Leavers and Veterans.

Home Reach is a more flexible form of homeownership than the government-backed Shared Ownership scheme and is compatible with the MOD Future Accommodation Model and Forces Help to Buy schemes. heylo promotes its products in areas close to MOD service bases that have an accommodation shortfall.

As an extra helping hand, heylo adapts the lease to fit the requirements of service personnel. Those who are serving and posted have a special dispensation which gives them the right to sub-let their property for the duration of their deployment, if their lender agrees. heylo also provides £500 towards legal fees when service personnel purpose a home through their Home Reach or Your Home products.

Andrew Géczy, CEO at heylo said: “We are proud to play our part in supporting the Armed Forces and delighted to receive the ERS Silver Award. We believe that everyone should have the opportunity to benefit from homeownership, and we look forward to further extending our support to the Armed Forces community in future.”

Major Weatherley added: “I am keenly aware of the desire of many service personnel to own their own home. We are determined to continue helping both regular and reserve forces to buy a new home, as well as veterans who transition from service to civilian life; this can be a difficult time but is made much easier with our assistance.”

Minister for Defence People and Veterans, Leo Docherty, said: “I would like to thank all the organisations who have proven their support for the Defence community during such unprecedented and challenging times. The vast range of those recognised this year demonstrates how employing the Armed Forces community makes a truly positive and beneficial impact for all employers, regardless of size, sector or location.”